News: Australian Ethical expects H1 profit fall

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Australian Ethical Investment Limited (ASX:AEF) is expecting to show its net profit fell in the first half of the 2015 financial year when it releases interim results at the end of February. 

 

The manager of ethical funds has forecast it will report a net profit of between $800,000 and $970,000, down from a profit of $1.2 million posted the same time a year earlier.

 

Australian Ethical Investment says increased market values and strong flows into its products have been offset by fee reductions introduced mid 2014. 

 

However the company says these fee reductions are aimed at improving the competitiveness of its products. 

 

Australian Ethical Investment reported a net profit of $2.54 million in the 2014 financial year.