Half Yearly Report and Accounts

• Revenue increased by 32% to $8.03m
• Net loss decreased by 38% to $3.87m
• Funds under Administration increased by 32% to $2.19bn

Income Asset Management Group Ltd (IAM) reported its financial results for the half-year ended 31 December 2024. Revenue increased by 32% to $8.03 million, compared to $6.08 million in the prior corresponding period. The net loss for the period decreased by 38% to $3.87 million, down from $6.25 million. Key highlights include:- Funds under Administration (FUA) increased by 32% to $2.19 billion, up from $1.66 billion- Funds in Custody increased by 26% to $1.77 billion, up from $1.40 billion- New client accounts grew by 662 to 2,405, up from 1,743- Trading volume turnover increased by 74% to $2.49 billion, up from $1.43 billionThe company has focused on building reliable income, moving towards more frequent secondary trading and less reliance on volatile capital markets primary revenue. Cost reduction initiatives, such as the appointment of Perpetual Corporate Trust as the bond and loan custody and administration provider, are expected to reduce the cost base by $4 million per annum once fully implemented.IAM's strategic priorities include expanding its client base to drive FUA growth, identifying and structuring high-yield corporate bonds and securities, and strengthening recurring revenue streams through bond and fixed-income managed portfolios, Separately Managed Accounts, and SBetf products.

The company expects to continue growing revenue above the $4 million per quarter level, while also lowering costs through the transition to Perpetual Corporate Trust for fixed income administration.

IAM is well-positioned to capture a significant share of the $7.5 billion in listed hybrids maturing in calendar year 2025, given its product suite, client base, and market reputation. The company is focused on building reliable income, expanding its secondary trading activities, and launching new investment products to drive sustainable growth.