• Revenue down 4.6% to $26.486m
• Profit down 32.8% to $1.251m
• Adjusted profit up 24.0% to $2.621m

Earlypay Ltd has reported its financial results for the half-year ended 31 December 2024. Revenue decreased by 4.6% to $26.486m, while profit from ordinary activities after tax attributable to the owners of Earlypay Ltd declined by 32.8% to $1.251m. The company noted that to better reflect the underlying performance of the business, the net profit after tax has been adjusted to remove amortisation of intangibles and income and expenses that are non-operating or non-cash in nature. The adjusted profit after tax was $2.621m, up 24.0% from the restated prior period. The company highlighted that receivables growth resumed during the half-year for both invoice finance and equipment finance products, while the trade finance component of invoice finance receivables declined with the active reduction of exposure in that product. As at 31 December 2024, there was a surplus in net assets to net liabilities of $72.633m and in net tangible assets to net liabilities of $38.154m. Cash and cash equivalents were $32.886m, with unrestricted cash at $13.372m.

A fully franked dividend of 0.14 cents per share was declared subsequent to the balance date and not recognised at the half-year ended 31 December 2024. This interim ordinary dividend will have a record date of 12 March 2025 with payment to be made on 4 April 2025.