• 27.9% increase in Statutory Net Profit After Tax (NPAT) to $16.9m
• 6.1% increase in Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) to $52.0m
• Ceased lending operations in New Zealand due to challenging macroeconomic conditions

Solvar Limited reported a 27.9% increase in Statutory Net Profit After Tax (NPAT) to $16.9m for the half year ended 31 December 2024, compared to the prior comparative period. The growth in NPAT was driven by a $4.1m net increase in interest income in the Australian operations, contributed by a 7.1% growth in the loan book since December 2023, as well as a $7.6m reduction in interest income in New Zealand operations due to a 38.5% reduction in the loan book. The company also saw a $2.2m reduction in interest expense in New Zealand operations due to repayment of external debt, and a $3.8m reduction in impairment allowance in New Zealand. Operating expenses were also reduced by $2.3m. Normalised NPAT increased by 26.9% to $18.5m. EBITDA grew by 6.1% to $52.0m. During the half year, the company purchased 5.7m ordinary shares through an on-market share buy-back program, contributing to a 30.0% growth in Earnings Per Share to 8.20 cents. In August 2024, the company ceased lending operations in New Zealand due to challenging macroeconomic conditions, with the opportunity to grow Australian market share in consumer and commercial lending deemed superior. The company also provided updates on regulatory proceedings it is involved in.