Trading Update and Interim Dividend
Stock | EUROZ Hartleys Group Ltd (EZL.ASX) |
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Release Time | 29 Jan 2025, 4:11 p.m. |
Price Sensitive | Yes |
Euroz Hartleys reports strong first-half results
- Expects total revenue over $50 million and net profit after tax of $6.25 million
- Interim dividend increased to 2 cents per share fully franked
- Diverse revenue streams and focus on recurring revenues driving growth
Euroz Hartleys Group Limited ('Euroz Hartleys') (ASX: EZL) reports an improved six months trading and overall solid profitability for the first half of the 2025 financial year. On a headline basis, Euroz Hartleys expects total revenue of over $50 million and an unaudited net profit after tax (attributable to members) of approximately $6.25 million for the 6 months to 31 December 2024 (2023: $1.04 million), up 501% versus the previous corresponding period. The Directors are pleased to announce an increase in the first half year dividend to 2 cents per share fully franked. This result demonstrates the strong operational leverage of the underlying business during a half year in which overall market volumes and Equity Capital Market (ECM) issuances are still below longer-term averages. Euroz Hartleys capitalised on a brief but strong capital raising window at the beginning of the period which saw total ECM raisings of approximately $965 million for the half year, up 95% versus the previous corresponding period. Total ECM revenues were up approximately 79% on the same basis. The company believes its diverse revenue streams are a great strength of the business and it will continue to embrace all types of both transactional and recurring revenues. Both Wholesale and Private Wealth brokerage revenues were up strongly on the previous half year due to a stronger focus on trading capabilities. Total brokerage revenue was up 8% on the previously good corresponding half year. Euroz Hartleys remains highly focused on increasing recurring revenues and reports a modest increase in Funds Under Management (FUM) to approximately $4.19 billion as at 31 December 2024 (up from approximately $3.89 billion as at 30 June 2024). The company has high expectations that the coming half year will continue to deliver stronger underlying organic FUM growth.
Euroz Hartleys expects total revenue of over $50 million and an unaudited net profit after tax (attributable to members) of approximately $6.25 million for the 6 months to 31 December 2024.
Euroz Hartleys is optimistic that its financial outlook and market position continues to improve and that the business remains leveraged to a solid overall outlook for commodities, an improving Initial Public Offering (IPO), merger and acquisitions pipeline and a growing need for meaningful and holistic financial advice.