• Momentum in key growth drivers continues, strong result achieved
• Financial momentum continued in 1H25 with margin expansion and sustainable profitable growth
• Optimised balance sheet funding program with continued programmatic issuance in public ABS

Latitude Group Holdings Ltd (LFS) reported a strong 1H25 result, with momentum in key growth drivers continuing. New customer accounts opened increased by 15% year-on-year (YoY), new personal and auto loan origination grew 13% YoY, and total card purchase volume and transactions increased by 11% and 9% YoY, respectively. Interest bearing receivables reached a new record high, up 18% YoY, while the net interest margin expanded by 142 basis points (bps) YoY to 11.7%. The company's financial performance was underpinned by strong foundational improvements, with cash operating expenses down 5% half-on-half (HoH) due to optimization of strategic investment spend, and cash cost-to-income ratio improving by ~700bps YoY. LFS continued to optimize its balance sheet funding program, raising $1.0 billion of new funding in public ABS with best-in-class pricing and further improvement in advance rates. The company also extended its maturity profile and expanded its active investor base, introducing 9 new investors in 1H25.

LFS reported a 12% YoY increase in total operating income to $408 million in 1H25. Cash profit before tax grew 40% YoY to $93 million, and cash net profit after tax increased 69% YoY to $278 million.

LFS continues to see strong momentum in its key growth drivers, with further expansion in margins and sustainable profitable growth expected in 2H25. The company will continue to optimize its balance sheet funding program and invest in growth initiatives to drive long-term shareholder value.