Plenti Group (ASX:PLT) booked an unaudited full-year cash profit before tax of $30.8 million, a 117% increase over the previous year.
The surge in profitability was mirrored by a 97% jump in cash NPAT, reaching $27.3 million, as the company fulfilled all market guidance objectives regarding growth, efficiency, and bottom-line returns.
The quarter ended March 31 saw quarterly originations reach $475 million, representing a 17% increase on the prior corresponding period.
While the figure was broadly consistent with the preceding quarter, the company noted it achieved an all-time record for daily originations, particularly impressive given the fewer business days in the period.
The momentum propelled the total loan portfolio to $3.1 billion, surpassing its $3 billion target two months ahead of schedule.
A key driver of the expansion was the "NAB powered by Plenti" partnership, which saw its portfolio grow by 34% to $121 million.
Despite rapid growth, Plenti maintained robust credit performance, with 90+ day arrears finishing the quarter at 42 basis points.
Capital management remained a priority, evidenced by the completion of a $400 million asset-backed securities transaction and the repayment of $12.5 million in corporate debt.
At the time of reporting, Plenti Group’s share price was $0.96.