MONEYME (ASX:MME) records $6M statutory NPAT in H1 FY24

MONEYME reported a statutory net profit after tax of $6 million in the first half of FY24, driven by technology efficiencies, strong credit performance, and effective interest rate management.

This figure represents a decrease from the previous year's $9 million in the first half but is an improvement from $3 million in the second half of FY23.

The firm logged a reduced gross revenue of over $105 million in line with a moderated growth strategy, increased originations of $277 million, and a stable loan book balance of $1.2 billion with a higher ratio of secured assets.

The credit profile strengthened with a net loss rate of 4.6%, an average Equifax credit score of 741, and 86% of loans having a score ≥ 600.