31 December 2024 Results
| Stock | COG Financial Services Ltd (COG.ASX) |
|---|---|
| Release Time | 26 Feb 2025, 8:40 a.m. |
| Price Sensitive | Yes |
COG Financial Services Ltd Reports H1 FY25 Results
- NPATA attributable to shareholders of $11.8m, down 6% on the previous year
- EPSA of 5.98cps down 10% on the previous period
- FY25 interim dividend (fully franked) declared of 3.0 cps, down 25% on the previous period
- Net Assets Financed of $4.2b down 3% on the previous period
- Growth in Assets under management to $967.0m, up 13% on this time last year
COG Financial Services Limited (COG) has announced the release of results for the period ended 31 December 2024. NPATA attributable to shareholders was $11.8m, down 6% on the previous year. However, NPATA was up 3% allowing for the diminished contribution of COG's TL Commercial operating lease business. EPSA was 5.98cps, down 10% on the previous period. The company has declared a FY25 interim dividend (fully franked) of 3.0 cps, down 25% on the previous period. As part of the Group's capital management activities, the Dividend Reinvestment Plan has been suspended for the interim dividend announced today. Net Assets Financed was $4.2b, down 3% on the previous period, while Assets under management grew to $967.0m, up 13% on this time last year. The company has also made several acquisitions, including an additional 5% equity interest in QPF Holdings Pty Ltd, an additional 20% equity interest in QPF Insurance Pty Limited, 100% of the salary packaging business known as Community Salary Packaging, and 100% of the mortgage finance broking business known as 'Cap Coast Home Loans' or 'CCHL'.
The Group's strong balance sheet with unrestricted cash of $83.7m as at 31 December 2024 will enable the Company to achieve further earnings growth organically and through acquisition. The Group's Novated Leasing segment continues to deliver outstanding results, with significant ongoing organic growth expected as the company continues to capture opportunities in this space and drive uptake with current partner employees.
The company is focused on further building out its own retail fixed income product. To continue to ensure effective capital management and efficient funding of any potential acquisitions, the company has lowered its current dividend payout ratio to circa 50% of NPATA.