HUB24 (ASX:HUB) announced its financial results for the half year ended Dec. 31, 2024.
The company reported a 41% increase in group underlying EBITDA to $77.6 million and a 40% rise in group underlying net profit after tax to $42.6 million compared to the same period in the previous year.
The statutory NPAT for the fiscal half was $33.2 million, marking an increase of 54%.
The directors have declared a fully franked interim dividend of 24 cents per share, a 30% increase on the prior corresponding period, to be paid on April 15.
Total funds under administration reached $120.9 billion as of Dec. 31, 2024, with Platform FUA climbing to $98.9 billion, showing continued growth in market share.
Achievements included record half-year platform net inflows of $9.5 billion, leading to HUB24 maintaining its top position for platform quarterly and annual net inflows.
Revenue from the Platform segment grew 29% to $154.2 million, supported by a 39% rise in Underlying EBITDA to $66.7 million.
In commenting on the results, HUB24 CEO and Managing Director Andrew Alcock noted, "We've delivered strong financial results for H1 FY25 with an increase of 25% in group revenue to $195.2 million and 40% in underlying NPAT to $42.6 million over the prior corresponding period."
Given current momentum, HUB24 has upgraded its FY26 Platform FUA target to between $123 billion and $135 billion.
The company expects continued strong growth and profitability in the coming periods.