Steadfast Group announced strong underlying earnings growth for the period ended 30 June 2018. Underlying net profit after tax increased by 12.9% to $75.0 million as revenue surged up 15.5% to $582.5 million, driven by organic and acquisition growth across the group.
Underlying EBITA grew 15.5% yielding $165.6 million over past 12 months. The company reported FY18 earnings per share of 9.71 cents compared to 8.87 cents in FY17.
Final dividend of 4.7 cents per share was declared during FY18, which takes total fully franked dividend to 7.5 cents, up 7.1% year-on-year. The final dividend is payable on 20 September 2018.
Looking into FY19 the company expects EBITA to range between $185 million and $195 million. While underlying net profit after tax is anticipated to be within the range of $82.5 million and $87.5 million on the back of higher contribution from Steadfast Client Trading Platform.
Steadfast’s share price slipped by 1.954% to $3.010 on 24 August 2018.
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