Fiducian Portfolio Services has recorded a net profit of $6.3 million for the 2007/08 financial year, an 18 per cent improvement on the previous year's profit of $5.3 million.
"Given all of the convulsions that are going on in global markets and ours, the company has withstood the pressure and I think we have been good to our shareholders," Fiducian managing director Indy Singh said.
The strong profit result is a product of diversification of income streams, Singh said.
"We try to diversify the revenue source so we are not just like a fund manager where, if the share market falls, our revenue collapses with it," he said.
While revenue for the organisation was derived from the four business arms, financial planning, funds management, platform product and IT, Singh said no one area stood out from any other.
"They all performed as expected given that declining markets mean declining funds under management, administration, or advice - which has a proportionate impact on everyone," he said.
Fiducian also achieved expense control during the year, and the company now has the excess capacity for further growth, without a jump in its cost base, according to Singh.
The result has allowed the firm to declare a fully franked dividend of 6.5 cents per share.
