Wealth manager Perpetual has lifted its half year profit due to improved equity markets and lower costs as a result of a restructure.
Perpetual made a $33 million net profit in the six months to December 31, up 22 per cent from a year earlier.
Chief executive Geoff Lloyd said the improvement reflected the benefits of its transformation strategy, which includes a relentless focus on reducing costs.
Stronger share markets also boosted the performance of the company's investments operations, he said.
"I am confident that a leaner, more profitable Perpetual is well placed to benefit from long term market growth, improving investor and consumer sentiment, and growing retirement savings," Mr Lloyd said.
The company's shares were up $1.43 at $51.13 at 1436 AEDT.
