• Company returns to profitability in H1 FY25
• Interim dividend of at least 0.2 cents per share proposed
• Key appointments strengthen operations and investment management

Clime Investment Management Limited (ASX:CIW) has announced its December 2024 quarterly update, highlighting the company's return to profitability and the proposed payment of an interim dividend. After outlining cost-cutting initiatives and a focus on delivering value for shareholders and clients, the company has successfully covered the cost of abnormal expenses and will finish the half-year with $1 million in cash and $3.5 million in liquid assets and income-yielding notes. The company has completed a comprehensive review of its insurance arrangements, worked closely with Infocus Securities Australia, and realized over $250,000 in IT services cost savings, which have been reinvested in improving the company's middle office and advice technology. Clime is also formalizing a revised distribution strategy that returns to the activities that originally built the company, including more direct interactions with clients, public events, and content for financial advisers. While Funds Under Management (FUM) and Funds Under Administration (FUA) saw a small decrease due to market movements and pensions paid to retired clients, the core business streams remain strong, with over $1.6 billion in FUM. The company's investment management team, led by Chief Investment Officer Will Riggall, will continue to seek value in the equities market, and the company remains committed to reducing the cost of its fund offerings, creating new products, and attracting talent to bolster its capabilities. Clime has also completed the recruitment of an operations manager and two new staff members to manage its listed assets and off-market and wholesale investment offerings. The outlook for Clime is positive, with the company focused on improving its products and distribution framework, while remaining committed to positioning the company for substantial profit growth in the year ahead.

Clime Investment Management expects to declare a small profit in the December 2024 half-year and will recommend to the board that an interim dividend of at least 0.2 cents per share be paid.

The outlook for Clime Investment Management is positive, with the company focused on improving its products and distribution framework, while remaining committed to positioning the company for substantial profit growth in the year ahead.