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HUB24 posts strong result off record inflows

Mike Taylor20 February 2024
Results signs

HUB24 has posted a strong first half with net profit after tax up 39% to $25.1 million.

The platform provider said that total funds under management (FUM) had grown to $91.2 billion with platforms FUM increasing to $72.4 billion.

The company highlighted the fact that it had been a record half year for net inflows which were up 26% to $7.2 billion.

The company said that the number of advisers using the platform had increased to 4,297, up 16% from the first half of 2023 with 70 new distribution agreements having been signed.

Commenting on the result, HUB24 CEO, Andrew Alcock said that given the strong performance the board had announced an 18.5  cents per share interim dividend, fully franked.

Mike Taylor

Mike Taylor

Managing Editor/Publisher, Financial Newswire

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