At June 30 2108 cash and cash equivalents totalled $18.6 million compared to the $6.1 million of cash and cash equivalents the company had at the start of the reporting period.
All 4 business divisions generated strong operating profits and each achieved milestones over the period.
The Wealth division saw InterPrac Financial Planning Pty Ltd voted as dealer group of the year by the IFA magazine, the Professional services division increased the number of accounting practises using our service to in excess of 2,000, the Direct Investments group saw a 300% increase in profit performance whilst the Equity Markets group completed the transition to self-clearing.
All in all, financial year 2018 was a year of setting the foundations of what we believe is a robust and well diversified financial services provider.
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