The Steadfast Group report NPAT up 19%

Company News

by Rachael Jones

The Steadfast Group (ASX:SDF) report underlying NPAT of $89.2 million, up 19 per cent on the prior corresponding period.

Underlying EBITA of $193.3 million, up 17.8 per cent and underlying revenue of $688.3 million, up 21.4 per cent.

They recently announced that they had entered into a Bid Implementation Agreement with IBNA, an insurance broker network, with 79 brokerages generating $1.25 billion of GWP in FY19.

Steadfast Group agreed to make a takeover offer for up to 100 per cent of the fully paid ordinary shares in IBNA.

Shares in Steadfast Group (ASX:SDF) are currently in a trading halt – They last traded at $3.56