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AAP
AAP
Business
Steven Deare

Magellan raises H1 profit, defies setbacks

Magellan
Fund manager Magellan has bounced back from turmoil to post a higher first-half profit. (AAP)

Magellan Financial Group has overcome recent turmoil to post a higher first-half profit and is offering deals on options to shareholders who stayed loyal.

Magellan on Friday reported net profit rose 24 per cent to $251 million despite losing boss Brett Cairns, a major contract and substantial share price value in the six months to December 31.

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