Perpetual net profit up in volatile market

Cost cutting helps fund manager Perpetual deliver an eight per cent rise in annual net profit to $132 million.

Fund manager Perpetual's full-year profit is up eight per cent, helped in part by a fall in expenses amid continued market volatility.

The group's net profit lifted to $132 million for the 12 months to June 30 despite a two per cent fall in revenue to $489.6 million.

Annual underlying profit after tax - a key figure tracked by analysts - was down four per cent to $128.2 million.