WT Financial flags positive full year result | Australian Markets
Publicly-listed WT Financial Group has flagged what it’s describing as a “strong” indicative full-year result entailing a 17.2% increase in gross revenue to $21.1 million.
The company has advised the Australian Securities Exchange (ASX) it anticipated earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA) for the underlying business to be up 13.4% to $6.8 million with underlying web revenue earlier than tax is predicted to be up 20.8% to $5.4 million.
It mentioned income and different income for the year rose 17% to $216.1 million pushed by natural growth throughout its national adviser community and continued momentum in each its business-to-business and business-to-consumer channel.
Direct price of gross sales elevated to $195 million.
The company’s stable indicative result follows on from its 31 March announcement that it had entered into a 50/50 three way partnership with Merchant Wealth Partners to invest in Australian financial advice practices through a new entity.
It additionally follows on from the company’s half-year outcomes the place it reported a 43.3% increase in underlying web revenue earlier than tax to $2.59 million however a 3.8% decline in web revenue after tax to $2.108 million.
Releasing the indicative full-year numbers, the company mentioned working money stream for the year was stable at $5.8 million and mentioned it continued to keep up one of Australia’s largest financial adviser networks by means of its Wealth Today, Sentry Advice, Synchron Advice and Millennium 3 licensee teams.
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