IOOF HY20 financial results
On 18 February we announced the 2020 half year financial results for IOOF Holdings Limited (ASX:IFL).
- A statutory net profit after tax (NPAT) of $115.0 million.
- Total funds under management, administration and advice (FUMA) of $145.7 billion, up 5.2%.
- Underlying NPAT from continuing operations of $56.6 million.
- $1.4 billion in total net inflows.
- A cost to income ratio of 57.8%, up 12.1% on the 2019 half-yearly results, reflecting our increased governance costs and impacts from legislative changes.
- The completed acquisition of ANZ Pensions and Investments (P&I) for a re-negotiated sale price of $825 million, a reduction of $125 million.
- A fully-franked interim dividend of 16 cents per share.
- IOOF is now the second largest advice business with 1,443 advisers and the fifth largest platform provider by funds under administration.