IOOF HY20 financial results

On 18 February we announced the 2020 half year financial results for IOOF Holdings Limited (ASX:IFL).

Result highlights

  • 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.

For more information on IOOF’s 2020 half year financial results, please read the media release, view the half year 2020 result webcast or the Investor presentation