Financial services company, Hub24 Ltd
(ASX:HUB), has released its quarterly business update, which contains positive results.
Hub24 says it had record annual retail net inflows for the 2016 FY, totalling $1.6 billion. The company says this is an increase of 102% compared to the 2015 FY.
The company also says the total funds that it administered was $3.8 billion at 30 June 2016, which is a 122% increase compared to the previous year.
Hub24 says the components of the funds it administered can be broken down as follows – $3.3 billion for Retail, $313 million for Wholesale and $150 million for Reporting Services.
Hub24 reported a net loss of $1.8 million at 31 December 2015.
