WEALTH manager IOOF has lifted its full year profit to almost $80 million and says new superannuation laws will increase its funds and benefit its business.
The value of funds the company manages or supervises rose by 11 per cent in the 2012/13 financial year to $120.2 billion.
Managing director Christopher Kelaher forecast further growth in those funds in the current financial year.
"With superannuation legislated for continuing growth, we will be well-positioned to continue to gain greater market share," he said.
IOOF's full year net profit of $79.8 million was up from $19.3 million in the previous year, a result that was impacted by a $63 million deferred tax liability.
The company declared a fully-franked final dividend of 22.5 cents.
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