Top ASX 200 Stock on a Turn Around

Perpetual Ltd (ASX: PPT)

Perpetual Ltd (ASX: PPT) delivered a strong financial performance in FY24, with revenue up 32% and Underlying Profit After Tax (UPAT) increasing by 26% year-over-year. Corporate Trust and Wealth Management were significant contributors, reporting Underlying Profit Before Tax (UPBT) growth of 4% to A$85 million and 15% to A$54 million, respectively. Funds Under Administration rose to A$1.2 trillion (+4%), while Wealth Management’s Funds Under Advice increased to A$19.8 billion (+7%). Asset Management saw standout performance, with UPBT surging 51% to A$200.4 million, driven by the full-year integration of the Pendal Group and improved revenue margins in equity strategies. Total Assets Under Management (AUM) grew to A$215 billion (+A$2.9 billion YoY), although the division faced net outflows of A$18.4 billion due to underperformance in key J O Hambro strategies and client reallocations at TSW.

Check Now - https://bit.ly/ASX-Stocks