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WT Financial Group - Results Commentary and Webinar Details

WT Financial Group Limited (“WTL”, “the Company” or “the Group”) is pleased to provide its Appendix 4D and Interim Report for the half-year to 31 December 2022 (H1 FY2023) for immediate release, showing a 104% increase in consolidated profit after tax over the prior corresponding period (PCP) to $2.28M.

The key highlights of the results are as follows:

  • Total revenue and other income increased 138% to $83.45M (H1FY2022: $34.97M)
  • Direct costs of revenue increased 147% to $74.88M (H1FY2022 $30.41M) in line with expectations and reflective of increased revenue contribution from non-salaried advisers following the Synchron acquisition
  • Operating expenses were contained to a 91% increase to $5.68M (H1FY2022: $2.88M) reflective of the success of the Group’s integration program
  • The Group’s consolidated EBITDA profit was up 72% to $2.88M (H1FY2022 $1.67M)
  • Inclusive of $64K of financing charges associated with premises leases, finance costs were up 65% on the PCP to $313K
  • Depreciation and amortisation were up by 82% on the PCP to $458K (H1FY2022 $252K).
  • Statutory income tax benefits were $171K (H1FY2022: expense $106K) resulting in a consolidated profit after tax of $2.28M, up 104% on the PCP (H1FY2022: $1.12M) 
For more information, download the attached PDF.

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