FY25 Results Overview

• Statutory revenue up 4.4% to $204.4 million
• Net work in progress growth of 2% to $363.5 million
• Significant investment in Class Action growth program, both domestically and internationally

Shine Justice Ltd (SHJ) has reported its FY25 full year financial results, with statutory revenue of $204.4 million, up 4.4% from $195.7 million in the prior corresponding period (PCP). The company's net work in progress (WIP) grew by 2% to $363.5 million, up from $356.4 million. During the year, Shine Justice made a large investment in its Class Action growth program, both domestically and internationally. The company also refinanced its disbursement funding to borrowings, resulting in significant future interest savings, and renewed, simplified, and extended its bank facilities. The company's cost base remained well-controlled, with overhead expenses (excluding fair value adjustments on deferred consideration) remaining steady on PCP at $70.2 million versus $69 million in FY24. The company reported a write-down of $9.6 million in the fair value of deferred consideration, primarily for the previous sale of a subsidiary. Shine Justice also declared fully franked interim and final dividends, the first franked dividends paid by the company since 2018. The company's leadership team was strengthened with the appointment of Carolyn Barker AM as Chief Executive Officer and Marc Devine as Chief Financial Officer. The company's Personal Injury Practice successfully resolved more than 4,500 cases, securing damages exceeding $1 billion for clients, and its Class Actions Practice delivered several significant outcomes, including landmark settlements in the Northern Territory and Western Australian Stolen Wages cases. The company also filed a class action against AMP Super and advanced a pipeline of high-profile investigations. Shine Justice's Board continues to focus on the company's capital management, including a share buyback program and the declaration of fully franked dividends.

The Group expects improved EBITDA and GOCF in FY26, subject to the usual operating conditions, regulatory environment and progression of matters through the litigation cycle.

The Group has entered FY26 with strong momentum as one of Australia's leading personal injuries and class actions practices. Growth initiatives are underway, including targeted expansion in high-potential branches and the assessment of selective file acquisition opportunities to drive scale and efficiency. The Group continues to strengthen its class actions capability in both Australia and New Zealand, responding to a pipeline of promising opportunities in this segment.