CLEARVIEW WEALTH LIMITED — Earnings Release 2011

Aug 23, 2011

Appendix 4E Full Year Report Year ended 30 June 2011

**1. **	Name of Entity:	CLEARVIEW WEALTH LIMITED	CLEARVIEW WEALTH LIMITED	CLEARVIEW WEALTH LIMITED
	ACN:		106 248 248
	Period ended ("reporting period")		30 June 2011
	Period ended ("previous corresponding period")		30 June 2010
**2. **	Results for announcement to the market
	(Amount and percentage change up or down from the previous corresponding period)
		% change		$'000
2.1	Revenues from ordinary activities
	- Continuing Operations (before fair value adjustments of financial assets)	200%		136,019
	- Discontinuing operations	(100%)		-
2.2	Profit from ordinary activities after tax
	- Continuing operations	260%		8,665
	- Discontinuing operations	(100%)		-
2.3	Net profit after tax for the reporting period attributable to members	92%		8,665

The profit from ordinary activities in the prior year was reduced by $3.5 million as a result of completion adjustments relating to the acquisition of ClearView Group Holdings Pty Limited. This had an impact on the percentage change presented above.

2.4	Dividends	Amount per security	Franked amountper security
	Final 2011 dividend	1.8	1.8
	Interim 2011 dividend	nil	nil
	Previous corresponding period
	Final 2010 dividend	nil	nil
	Interim 2010 dividend	nil	nil
	The dividend re-investment plan has been suspended since 26 February 2008.
2.5	Dividends
	Ex-dividend date		5 September 2011
	Record date for determining entitlements to the dividends		9 September 2011
	Payment date of dividends		22 September 2011

2.6 Explanation of the results for the current period

See Chairman's, Managing Director's and Directors' Reports in the accompanying Annual Report.

See accompanying Annual Report for Statement of Financial Performance, Statement of Financial position and Statement of Cash Flows.

**3. **	Net assets and net tangible assets per security	Reporting period	Previouscorresponding period
	Net assets* per security - cents per share	60.5	58.3
	Net tangible assets* backing per ordinary security - cents per share	41.7	36.5
	*Adjusted for the shares issued and corresponding loans granted under the Employee Share Plan (ESP).
**4. **	Control gained over entities having a material effect

There has been no significant movement during the period.

5. Dividends

A final fully franked dividend of $7.7 million (1.8c per share) has been declared.

6. Subsequent Events

On 24 August 2011 the Company proposed a final fully franked dividend of $7.7 million (1.8 cents per share). The dividend will be paid on 22 September 2011. Since the dividend has not been declared at year end it has not been recognised as a liability in the financial reports.

The Directors are not aware of any other matter or circumstance not otherwise dealt with in this report or the financial statements that has significantly, or may significantly, affect the operations of the consolidated entity, the results of those operations or the state of the affairs of the consolidated entity in future financial years.

7. Details of associates and joint venture entities

The Group maintains a 40% interest in Berry Financial Services Pty Limited. Profit from the associate of $0.02 million has been recognised during the period.

8. Commentary of results

The results for the year ended 30 June 2011 reflects a net profit after tax of $8.7 million.

The net profit after tax is reported after $7.4 million of amortisation charges in respect of the acquired intangible assets, $0.6 million noncash charge in respect of insurance policy liabilities as a result change in the discount rate adopted for the liability determination during the reporting period, $4.4 million of one-off transition, restructure and system upgrade costs and an income tax effect of the aforementioned items of $1.7 million.

Refer to the Chairman's, Managing Director's and Directors' reports in the Annual Report for further analyses of the results to the financial year.

year.
		2011	2010
		cents per share	cents per share
Basic earnings per share
- Continuing operations		2.12	1.33
- Discontinuing operations		-	1.16
Total basic earnings per share		2.12	2.49
Diluted earnings per share
- Continuing operations		2.10	1.33
- Discontinuing operations		-	1.13
Total diluted earnings per share		2.10	2.46
Dilutive aspects of earnings per share are provided in the accompanying Annual Report.

The profit from ordinary activities in the prior year was reduced by $3.5 million as a result of completion adjustments relating to the acquisition of ClearView Group Holdings Pty Limited. This had an impact on the prior year earnings per share presented above.

Compliance Statement

9. The information provided in this report has been prepared in accordance with AASB standards, other AASB authoritative pronouncements and Urgent Issues Group Consensus Views or other standards acceptable to ASX.

10. The ClearView Wealth Limited Annual Report for the period ended 30 June 2011 has been subject to audit. A copy of the independent audit report to the members of ClearView Wealth Limited is included in the accompanying Annual Report.

Chris Robson Company Secretary