26 August 2020: Financial results for year ended 30 June 2020 (Comparisons are with financial year ended 30 June 2019)
Financial highlights
- Net profit after tax attributable to shareholders of $9.5 million (up 46%)
- Underlying profit after tax (UPAT) of $9.3 million (up 42%)
- Revenues of $49.9 million (up 22%)
- Performance fee of $3.6 million from outperformance of Emerging Companies Fund, up 350% from FY19’s performance fee of $0.8 million
- Excluding the impact of the performance fee, revenue and UPAT both increased by 15%
- Operating expenses of $37.0 million (up 16%)
- Final ordinary dividend of 2.5 cents per share, fully franked; special performance fee dividend of 1.0 cent per share, fully franked; total dividend for year of 6 cents (up 20%)
- Strong balance sheet, no gearing
Operating highlights
- Group funds under management (FUM) of $4.05 billion (up 19%)
- Net inflows of $660 million (up 100%)
- Customer numbers up 20%
- Excellent performance across most funds in the investment portfolio with multiple industry awards and high industry ranking
- Net promoter scores: +63 (super) and +58 (managed funds) among the best in the industry1
- Top quartile staff engagement score of 86%2
- Record amount of $1.3 million provisioned for donation to The Australian Ethical Foundation
- Strong operating cash flow