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- Accounting firm Kelly Partners Group (KPG) has posted a 16.8 per cent increase in earnings for the first half of the 2021 financial year
- In addition, the group recorded a 55 per cent increase in underlying net profit after tax and amortisation (NPATA) to $2.8 million
- These results can be attributed to a reduction in costs towards additional investments
- Revenue also rose by 5.8 per cent to $24.8 million compared to the prior corresponding period
- This is due to revenue contributions from accounting firms KPG acquired in FY20
- Looking ahead, the company will focus on maintaining a strong financial position and executing its growth plan
- KPG ended the day 2.86 per cent in the green with shares closing at $2.16
Kelly Partners Group (KPG) has announced some pleasing results from the first half of the 2021 financial year.
Kelly Partners Group is a chartered accounting firm that provides financial services to private clients, private businesses and their owners, and families.
The company posted a 5.8 per cent increase in revenue to $24.8 million compared to the prior corresponding period (pcp) being the half year ending December 2019.
KPG attributes the increase to annualised revenue contributions from accounting firm acquisitions completed in the 2020 financial year.
Further, the group recorded an underlying net profit after tax and amortisation (NPATA) attributable to shareholders of $2.8 million, which is a 55 per cent increase.
Group underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) also increased by 16.8 per cent to $9.6 million which showcases KPG’s operating efficiencies and reductions made to additional investments.
KPG largely dedicates these increases to its focus on reducing investment spending since the COVID-19 outbreak in March 2020.
Additionally, the finance stock reduced debt by 14.1 per cent to $13.1 million as a result of prioritising repayments.
“The H121 performance of our businesses is pleasing and has improved significantly on H120. We have and continue to prepare the business for the current economic environment and the business remains well positioned and well capitalised over the medium term to execute its five-year growth plan,” Executive Chairman and CEO Brett Kelly said.
Looking ahead, KPG will continue driving market share gains, further scale its unique business model, pursue acquisitions, maintain market-leading EBITDA margins and grow dividends at 10 per cent per annum.
KPG ended the day 2.86 per cent in the green with shares closing at $2.16.
