Wealth manager Perpetual’s aggressive cost cutting, and a stronger share market, have contributed to a strong rise in its full year profit.

Perpetual made a profit of $61 million in the 2012/13 financial year, up from $27 million in the previous year.

Costs from the company’s restructure were significantly lower in the 2012/13 year, but its underlying profit also rose due to stronger funds from a rising equity market.

The company said it was heading into the last stages of its restructure, which it said will improve the its performance regardless of the performance of financial markets.