Centrepoint result pleases some
Financial planning group Centrepoint Alliance scored a positive share price reaction from investors despite reporting a 33.7% decline in net profit after tax attributable to members.
The company accentuated the positives, pointing to its 13% increase in net revenue of $40.9 million and its solid 16% increase in normalised EBITDA of $10.6 million.
The company also once again claimed to have the recorded “the highest organic net growth” in financial planning market share with net growth of 22 authorised representatives for the year with 571 advisers operating under its licenses.
It also noted its salaried advice expansion with the acquisition of Brighter Super’s advice review book with three advisers transitioning to Financial Advice Matters, increasing the total number of employed advisers to 22.
The investor briefing delivered by Centrepoint chief executive, John Shuttleworth outlined the company’s five strategic pillars to drive growth including growing licensed and self-licensed advisers, growing salaried advisers, building scale in asset management and launching its superannuation and investment platform.
To that end, the briefing said that the focus was on maintaining scale via acquisitions and organic growth, acquiring corporatised firms to improve margin and growing managed accounts.
The directors declared a final fully franked dividend of 1.75 cents per share, bringing total FY25 dividends to 3 cents per share.
Are Interprac / Sequoia going to pay the 10’s of $$ millions in AFCA complaints ? Even after Macquarie &…
Always back self interest when a body is marketing a submission to the government
In other words the system is achieving what the government wanted to happen.
Every day I come on here it feels like it is just the SMC trying to lobby to make one…
Well our compliance and red tape costs average around $200-$250k per adviser. Go ask the government why advice is so…