- Smartgroup Corporation has reported a 5 per cent rise in profits and 3 per cent rise in revenue for the first half of the 2019 calendar year
- CEO Deven Billimoria said part of the company’s success over the last month can be attributed to its progress with the integration of some purchased businesses
- Directors have announced a fully franked interim dividend of 21.5 cents per share for shareholders
- Company shares closed 1.12 per cent up today to trade for $9.04 each in a $1.19 billion market cap
Smartgroup Corporation has reported a 5 per cent rise in profits and 3 per cent rise in revenue for the first half of the 2019 calendar year.
The market has responded well to the ASX 200 company’s half-year report, with shares closing 1.12 per cent up today to trade for $9.04 each. Smartgroup shares trade in a healthy $1.19 billion market cap.
The employee management company’s revenue came in at $125.8 million compared to $122.6 million at this time last year. Earnings before interest, tax, depreciation and amortisation (EBITDA) ended the half-year at $58.8 million — 4 per cent up from the $56.6 million at last half-year.
Profit after tax was at $40.5 million, compared to the $38.4 million over the same period last year.
Smartgroup CEO Deven Billimoria said part of the company’s success over the last month can be attributed to its progress with the integration of some purchased businesses.
These purchases include the $6.9 million takeover of the novated leasing assets of MyLease from iNovation, and the $2.2 million purchase Perth-based Pay-Plan.
“It has been another successful 6 months for the group with positive financial performance, client growth and continued success in expanding our service offering,” Deven told shareholders today.
Company directors have also announced a fully franked interim dividend of 21.5 cents per share for shareholders. This is a five per cent increase to the same period last year.
Smartgroup focusses on providing employee management services by creating technology to help simplify salary packaging and fleet management, while providing several other services to organisations around the country.