• Record high receivables and #2 brand in Australian Personal Loans
• Robust growth across all products, with increased variable rate loans
• Focus on fundamentals delivering volume growth in Pay division
• Disciplined cost management enabling strategic investments

Latitude Group Holdings Ltd (LFS) presented its FY24 results, highlighting key business drivers and financial performance. The company achieved record high receivables of $6.7 billion, with the Money division's receivables reaching $3 billion. LFS maintained its position as the #2 brand in Australian Personal Loans. The Pay division saw a focus on fundamentals, delivering 22% year-on-year growth in applications and 4.6% growth in card purchase volume per account. The company's cost optimization efforts enabled strategic investments in growth initiatives, with cash operating expenses up 9% half-on-half excluding one-offs. LFS raised or refinanced $4.3 billion in secured funding, including $1.6 billion in new ABS debt, to support balance sheet growth and optimize funding costs. The company also made progress on its Winning Culture agenda, with leadership appointments completed and the new operating model embedded. Overall, Latitude delivered a strong FY24 performance, positioning the business for continued growth and sustainable financial performance.

LFS expects to deliver FY25 Cash NPAT of $155 million, representing a 59% year-on-year increase.

Looking ahead, Latitude is focused on executing its 'Simplify, Optimise, Maximise' strategy, which aims to drive operational efficiency, optimise the balance sheet, and pursue new growth opportunities. The company is well-positioned to capitalize on market opportunities and deliver sustained financial performance.