Craigs sees slowing growth in funds management after 58% boost in 2016 profit

Wed, 12 Apr 2017

By Rebecca Howard April 12 (BusinessDesk) - Craigs Investment Partners posted a 58 percent gain in annual profit as a swelling pot of funds under management delivered a boost to fee income, however, the broking and research house sees the pace of that growth slowing. Net profit rose to $25.6 million in calendar 2016 from $16.2 million in the prior year as the Tauranga-based company's revenue climbed 18 percent to $145.4 million. Of that, income from fees jumped 30 percent to $84.8 million. Chairman Neil Craig said the firm - which ha...

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