WT Monetary Group flags sturdy half-year outcomes | Australian Markets
WT Monetary Group has flagged posting a sturdy half-year consequence on the back of a 33.5% increase in underlying income and a 35.8% increase in Internet Revenue Earlier than Tax.
Releasing its indicative half-year outcomes to the Australian Securities Trade (ASX) the company additionally pointed to technology overcoming a death of advisers.
The indicative outcomes flagged income from the underlying business being up 33.5% to $106.30 million and with the direct price of gross sales anticipated to land at $96.13 million it stated it anticipated a 26.7% increase in gross revenue to $10.17 million.
The announcement stated the Board anticipates declaring a totally ranked interim dividend of 0.20 cents per share, bringing dividends declared up to now 12 months to70 cents per share.
Commenting on the indicative consequence, WTL founder and chief govt, Keith Cullen stated the outcomes have been reflective of the company’s disciplined method to growth and integration.
“Successfully aligning all our networks under a unified framework has provided operational efficiency while enabling the practices we support to access an even broader range of services,” he stated.
Cullen stated the outlook for the advice career and the company itself have been very optimistic as growing demand for high quality financial and personal risk insurance coverage advice continued to see income and profitability increase.
“While adviser numbers remain constricted through high barriers to entry, increasingly practices are embracing advancements in technology to enable them to achieve further growth by serving more clients more efficiently,” he stated.
“We are also experiencing increasing demand from practices for us to provide them with advice and support for M&A initiatives to enable them to achieve scale and drive operational efficiencies, margins and asset values,” Cullen stated.
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