Summary of indicative results for the underlying business
-- Revenue & Other Income for the underlying business is expected to increase by 15.3% to $185.1M (FY23 $160.5M). Direct Cost of Sales were $167.4M (FY23 $145.4M), resulting in an expected gross profit increase of 17.4% to $17.7M (FY23 $15.1M).
-- Earnings Before Interest and Tax (“EBIT”) for the underlying business is expected to be up 41.5% to $5.2M (FY23 $3.7M) after Total Operating Expenses of the underlying business increased just 12.4% to $11.9M (FY23 $10.6M); and Depreciation & Amortisation fell to $624K (FY23 $832K).
-- Underlying net profit before tax (“NPBT”) is expected to be up 51.4% to $4.4M (FY23 $2.9M), after Net Interest Expense of $774K (FY23 $751K).
-- Cash and Cash Equivalents increased 50.8% to $8.0M at year end (30 June 2023 $5.3M) net of a $2.0M cash payment in December 2023 related to the acquisition of Millennium3 (“M3”).
-- The strong result represents the fourth consecutive year of compounding growth for the underlying business and provides for a return to dividends. The Board anticipates being able to declare a fully franked dividend of 0.4 cents on release of the Company’s Audited Financial Statements and has reinstated its policy to pay dividends biannually (subject to available cash).
WT Financial Group Limited (“WTL” or “the Company”) is pleased to provide indicative results for the full year to 30 June 2024 (“FY24” or “Period”), with the Company’s underlying business operations recording a 15.3% increase in revenue to $185.1M (FY23 $160.5M) and a 51.4% increase in underlying net profit before tax (“NPBT”) to $4.4M (FY23 $2.5M). Solid operating cashflow resulted in a more than 50% increase in year-end cash to $8.0M, providing for a return to a policy of paying dividends biannually.
A summary of the indicative results is provided herein, including details of the expected positive impact on the underlying business results in the Company’s statutory accounts from one-off income and expenses.
For more information, download the attached PDF.
Download this document
