FleetPartners Group (ASX:FPR) reported continued growth in its assets under management or financed for the year-to-date period ended Feb. 28, with "good earnings momentum" maintained in recent months, according to a Wednesday filing with the Australian bourse.
New business writings for the first half are expected to be lower than the prior corresponding period due to the temporary impact of the system cutover as part of the Accelerate program, as well as macroeconomic conditions in New Zealand, per the filing.
The company reiterated its expectations of at least AU$6 million in annualized cost savings following the completion of its Accelerate program.
Further, FleetPartners reached the first-half buyback amount authorized by the board of AU$30 million, the filing stated.
Price (AUD): $2.71, Change: $-0.010, Percent Change: -0.37%
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