Business
Platinum (ASX:PTM) share price on watch after strong profit growth
The Platinum Asset Management Ltd (ASX: PTM) share price will be one to watch on Wednesday.
This follows the release of the asset manager’s half year results after the market close.
How did Platinum perform in the first half?
The company was a positive performer during the first half, which could bode well for the Platinum share price tomorrow.
According to the release, for the six months ended 31 December, Platinum recorded an 8.5% increase in revenue to $166.6 million and a 14.4% lift in net profit to $90.4 million. Earnings per share came in at 15.6 cents.
Management advised that the main contributor of the increase in revenue, profit, and earnings per share was the mark to market gains on its seed investments, including…
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