AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
On 20 November 2018, OFX Group Limited (ASX:OFX) announced its results for 6 months ended 30 September 2018, following which the share price of the company decreased by 6.0 percent as on 20 September 2018.
The company reported that as at 30 September 2018, the companyâs revenue from ordinary activities was at $65.63 million which was an increase of 12 percent as compared to the previous corresponding period. The net profit for the period attributable to members increased by 13 percent to $9.36 million and earnings per share of the company increased from 3.45 cents in H1 2018 to 3.89 cents in H1 2019. The company reported that Strong fee and trading income growth across all regions delivered an increase of 11.6% to Net Operating Income (NOI) in the First half of FY 2019.Â
In the first half of FY 2019, Australia and New Zealand were the highest contributors to fee and trading income and fee and trading revenue in this region increased by 11%, delivering on a commitment to reactivate the Australian business. The company also experienced growth in European business with fee and trading revenue increasing by 13% driven by strong performance in the Corporate book. During the first half of FY 2019, the e-money license was obtained in the UK allowing the company to hold customer funds and launch the Global Currency Account in the UK.
The company also witnessed significant growth in its North American business as Fee and trading revenue from that region increased by 18% in the first half driven by continued investment in additional resources and promotional activity. The Fee and trading revenue in Asia increased by 29% in the first half of FY 2019. The company started operations in its Singapore office on 1 April 2018 and invested additional resources and promotional activity to drive growth in this region.
In the first half of FY 2019, the company generated $15.8 million worth of cash and made a capital expenditure of $4.1 million to enhance the customer experience and reliable, scalable systems. The company is expecting that the EBITDA in the second half of FY 2019 will be stronger than the second half of FY 2018 with stable margins. Further, the board declared an interim dividend of 2.64 cents per share with an ex-dividend date of 27 November 2018 and payment date of 14 December 2018.
In the last six months, the share price of the company increased by 9.29 percent as on 19 November 2018. OFXâs shares traded at $1.880 with a market capitalization of circa $496.52 million as on 20 November 2018 (AEST 4:00 PM).
Disclaimer
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.
