Magellan Financial Group (ASX:MFG) said that from fiscal 2025, its operating profit will be adjusted to exclude both unrealized and realized fair value movements on fund investments as well as deferred tax on undistributed associate profits, according to a Friday Australian bourse filing.
The operating profit is statutory net profit after tax adjusted for strategic, non-recurring, non-cash, or unrealized items. Before this change, only unrealized fair value movements were adjusted to reconcile operating profit with statutory net profit for a specific period.
The changes include combining the fund investments and associate investments segments into a single partnerships and investments segment.
The firm's shares rose nearly 1% in recent trading on Friday.
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