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STA Equity Trustees 18 February 2021 EQT HOLDINGS LIMITED ASX ANNOUNCEMENT EQUITY TRUSTEES DELIVERS STRONG FUNDS GROWTH AS EARNINGS REBOUND ON PREVIOUS HALF PERFORMANCE CONFIRMS STRATEGY AND GROWTH MOMENTUM • • Funds under management , administration and supervision up 27 % on previous half to $ 128 billion Revenue $ 48.3 million , up 3.7 % on previous half and in line with prior comparative period ( pcp ) ( $ 48.9 million ) Net profit $ 9.8 million , up 27.4 % on previous half and down 14.5 % vs pcp Underlying NPAT $ 10.7 million , up 8.7 % on previous half and down 6.5 % vs pcp Interim dividend 44 cents per share Fulfilling purpose of safeguarding people's wealth and supporting the community Outlook positive , with industry trends supporting independent fiduciary model EQT Holdings Limited ( ASX : EQT ) , the holding company for Equity Trustees , today announced ongoing strong growth in funds under management , administration and supervision ( FUMAS ) , rising 27 % to $ 128 billion during the six months ended 31 December 2020 . The strong funds growth continued to support earnings as equity markets started to recover during the half , with net profit for the period up 27.4 % to $ 9.8 million , on revenue of $ 48.3 million , up 3.7 % , compared with the previous half . The Board declared an interim dividend of 44 cents per share . Chair Carol Schwartz AO said : " Equity Trustees continued to seize the opportunity for growth during a particularly challenging environment . " The excellent increase in FUMAS and strong financial turnaround reflect our strategy of investing for growth , as well as the resilience of our people and their commitment to our clients and beneficiaries . " While equity markets are recovering , they remain below prior levels , and this has had an impact on our business . However , the industry trend to outsource the fiduciary role continues to benefit us , and both TWS and CTS delivered underlying organic growth during the half . ” Managing Director Mick O'Brien said the strength of the group's core business and the substantial investment in people and technology underpinned the result . " The ongoing funds growth is very encouraging , as FUMAS is what drives future revenue streams , " he said . " Operating expenses were contained , up 3.4 % to $ 33.5 million , continuing to reflect the ongoing investment in people and technology to underpin future growth . Equity Trustees has not applied for or received any Government support during this period . Mr O'Brien said stabilising equity markets were positive for earnings , and very good growth in corporate trust and related products provided further opportunities . EQT Holdings Limited ABN 22 607 797 615 eqt.com.au P 1300 133 472. F 03 8623 5200 ⚫ Level 1 , 575 Bourke Street Melbourne VIC 3000 GPO Box 2307 Melbourne VIC 3001