Pinnacle Investment Management profit jumps 31.5% to $176.7M

• Pinnacle Investment Management delivered $176.7 million in full-year net profit, marking a 31.5% annual increase.
• The financial result beat market consensus estimates despite a lower-than-expected full-year dividend of 60 cents per share.
• The company is expanding its multi-affiliate platform into international markets to support future earnings growth.

Pinnacle Investment Management (ASX:PNI) delivered a 31.5% increase in full-year net profit after tax to $176.7 million.

The result exceeded market consensus estimates of $148.4 million, rising from $134.4 million in the prior year.

"This platform has supported strong growth to date and provides multiple pathways for further growth, including in larger international markets where we have demonstrated that the Pinnacle model can operate successfully," said Pinnacle Investment Management Managing Director Ian Macoun.

Aggregate funds under management grew 27.9% to $229.4 billion, while principal investment net losses reached $7.5 million.

Following the announcement, the Pinnacle Investment Management share price was up at $17.75.

The company stated that its growth strategy has established a platform across multiple asset classes and geographic regions.

Annual revenue increased to $109.69 million, enabling the business to maintain its full-year dividend at 60 cents.