Barrenjoey Capital Partners has reported a $26 million dollar net loss after spending more than $62 million setting up new business units over the past financial year.
The loss compares with the $5.3 million in profit it recorded for the year ending June 30, 2022, and after it brought new divisions online in the past 12 months – including fixed income, derivatives, private capital and prime brokerage services. Last year’s profit included a $48.1 million tax benefit based on the assessment there will be “sufficient future taxable profits”.
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Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
