HUB24 maintains profit momentum
HUB24 Limited has continued to assert its growth agenda, announcing a 68% increase in statutory net profit after tax to $79.5 million on the back of record annual platform net inflows of $19.8 billion.
Announcing its full-year results to the Australian Securities Exchange (ASX), the company said total revenue for the period was up 24% to $406.6 million driven by strong growth in the Platform segment and consistent revenue growth in Tech Solutions.
It reported underlying group EBITDA of $162.4 million which was up 38% over FY24.
The directors declared a final fully franked dividend of 32 cents per share.
The full-year announcement noted that the number of financial advisers using the platform had increased by 13% to 5,097 with 143 new distribution agreements being signed.
The company said it is uniquely positioned with combined Group capabilities to capitalise on emerging opportunities and lead the wealth industry as the best provider of integrated platform, data and technology solutions.
It said based on expectations of ongoing strong net inflows onto the HUB24 Platform, the company is now targeting a Platform FUA range of $148 billion to $168 billion for FY27 excluding Portfolio Administration and Reporting Service (PARS) FUA
Will we be able to look up and compare AMP’s underperforming and performance test challenged funds too?
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