Full Year 2024 Steadfast Group Ltd Earnings Call Transcript
Key Points
- Underlying EBITA rose by 22.7%, showcasing strong financial performance.
- Underlying NPAT increased by 21.8%, reflecting robust profitability.
- Bank and underwriting agency growth was up 19.6%, indicating successful expansion.
- Diluted EPS driven by both organic growth and acquisitions, highlighting effective growth strategies.
- Final dividend increased by 15%, demonstrating strong shareholder returns.
- Acquisition costs were high at $457.8 million, which could strain financial resources.
- The Sure acquisition faced challenges due to natural disasters, impacting its profitability.
- Increased regulatory requirements (e.g., CPS 230) may impose additional compliance costs.
- Interest rate increases have raised the cost of funding, affecting overall profitability.
- Potential risks associated with the integration of new acquisitions and maintaining operational efficiency.
Thanks very much, and good morning, everybody. And let me acknowledge the land upon which we meet today for the Gadigal people of the area and the participant of the Eora Nation. We're bounded by at the north at the west in the peen, up north of Hawkesbury and down to the Cooks River in the south.
So we just want to pay our respects to the custodians of this land. It goes back 40,000 years to the past, present, and the elders and the emerging people who will continue the custodial control of this land. So thank you, everybody.
I'll now refer you to slide 5 of the pack, and this is the group's EBITA. The underlying EBITA rose to 22.7% through the period, and our underlying NPAT up 21.8%. I must say, as a group, we're very proud of that. And as we start the second decade of this business being in a public arena, the ability for us to continue to increase like that is a pride that we all who operate in this business take with great success.
And that success, we think, has been the
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