Praemium profits from strategy execution
Platform company Praemium has delivered a 55% increase in full year statutory net profit after tax to $13.6 million on the back of cost containment and the substantial integration of the OneVue business.
Announcing the result to the Australian Securities Exchange, Praemium chief executive, Anthony Wamsteker said FY25 had been a pivotal year for the company marked by disciplined execution on strategy that delivered strong operational and financial progress.
“We’ve scaled efficiently, with EBITDA growth outpacing revenue and a 130 basis point uplift in margin, clear evidence of the leverage in our model,” he said.
Wamsteker said the company’s leadership in the high-net-worth segment continues to build momentum, underpinned by significant client wins across Spectrum, SMA and Scope+.
“With the successful integration of OneVue well underway and continued investment in innovation, Praemium is exceptionally well positioned to capture the long-term growth opportunity in the Australian market and deliver sustained value to shareholders,” he said.
Praemium acquired the OneVue platform business from Iress in February last year.
The company’s announcement said that revenue from contracts with customers of $103 million for the year was up 25% compared to $82.7 million for the year to 30 June, 2024 with the increase derived from higher platform funds under administration (FUA) – $30.7 billion compared to $28.1 billion).
The directors announced a dividend of 1.25 cents per share fully ranked.
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