August 25, 2019 / 10:43 PM / 22 days ago

Australia's IOOF posts 68% decline in annual profit

Aug 26 (Reuters) - Australian wealth manager IOOF Holdings Ltd said on Monday that annual profit fell about 68%, hurt by remediation costs.

Net profit came in at A$28.6 million ($19.32 million) for the year ended June 30, compared with a profit of A$88.3 million a year ago, the company said.

IOOF declared a final dividend of 12 cents per share and a special dividend of 7 cents per share.

$1 = 1.4806 Australian dollars Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Peter Cooney

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