Praemium reports solid half
Still in the process of bedding down its acquisition of OneVue, platform business OneVue has posted a 45% lift in statutory first half net profit after tax to $5.8 million.
The lift in profit came off the back of a 32% increase in revenue and other income of $52.3 million with OneVue adding $6 million in revenue.
Commenting on the result, Praemium chief executive, Anthony Wamsteker said it reflected a continuation of the momentum built through the 2024 financial year.
“We greatly improved our organic growth, repriced our core SMA to reflect its top tier position, rebounded from the impact of adviser exits, launched a market leading IDPS with Spectrum, restructured operations offshore and returned earnings to shareholders,” he said.
In its investor briefing, Praemium said the OneVue integration is tracking to plan and signalled further acquisition opportunities.
It said several files are open on new opportunities, describing them as being in the same line of business and or possessing “related and synergistic adviser desktop applications”
The directors declared a $0.01 dividend, fully franked.
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