McMilan Shakespeare NPAT falls amid business disruptions

Company News

by Jessica Amir

McMillan Shakespeare Group (ASX:MMS) has reported its net profit after tax fell to $67.9 million for the 2017 financial year, a miss compared to FY16’s $82.5 million.

Australia’s largest provider of salary packaging and novated leasing services was impacted by major contract marketing negotiations in the first half of the year, while the second half recovered. The firm also booked a $1.5 million one-off card program cost that impacted its result.

In good news though for shareholders, McMilan Shakespeare saw an improvement of 1.6 per cent on FY16 revenue and hit $513 million in 2017.

Its earnings before interest tax depreciation and amoritisation (EBITDA) rose 1 per cent on FY16 to $137.3 million.

The company declared a higher dividend in FY16 of 66 cents per share fully franked.

Shares in McMillan Shakespeare Group (ASX:MMS) are trading over 1.1 per cent lower to $14.34.
 

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