Netwealth (NWL) $13.64

NWL +2.71%: investment platform Netwealth traded higher today on an inline result that showed cost control can be managed. NPAT of $30.6m was in line while Revenue growth of 19% was a touch better than expected while platform margins increased by 4%. The company stuck to their target of $11b of net flows, seeing $5b in the first half, with management confident of an improvement in the 2H. Costs were up 27%, however, the guidance suggests that this is starting to level out and headcount will only marginally increase in the last 6 months of the year. The market enjoyed the more upbeat commentary today.