Financial results

FY2018 full year highlights

Highlights for the 12 months to 30 June 2018

• Cash NPAT was $23.4 million, up 3.3% on FY2017;
• Underlying statutory NPAT result was $25.6 million. The final result for FY2018 was $4.2 million due to:
  • $7.1 million positive adjustment to net NPV receivable for changes in run-off and other assumptions;
  • A one-off, non-cash adjustment of $28.5 million due to the new broker remuneration model being introduced;
• Core broking business recorded cash NPAT of $22.75 million, up 4% on FY2017;
• Loan book as at 30 June 2018 was $54.6 billion, up 2.3% on FY2017;
• Settlements of $11.5 billion were down 7% on FY17;
• Financial Planning gross revenue was $11.3 million, up 10.4% on FY2017 while net profit grew by 116%;
• Funds Under Advice rose 37.8% to $733.5 million and Premiums In Force grew 15.1% to $27.8 million;
• A fully franked final dividend of 9 cents per share was declared by the Board, bringing the total dividend for the year to 18 cents per share.