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SmartGroup Corp Ltd (ASX:SIQ) is an Australian outsourced salary packaging company within the diverse sectors such as the health, not-for-profit, State and Federal Government departments and corporate sectors nationwide.
SmartGroup Corp Ltd has released its FY 2018 results today. In FY 2018, the company has reported profit from ordinary activities of $59,286,000 vis-a-vis the profit of $41,212,000 as on the 31st of December 2017. During FY 2018, the number of Smartgroup salary packaging customers grew by 6% on pcp to circa 343,000. Also, the number of novated leases under management rose by 4% to reach at the levels of 65,000. The novated leases under the management of Smartgroup have continued to grow, despite a downturn in private new vehicle sales.Â
Innovation and customer experience remain a key priority for the business, and digital innovation is a vital component of this strategy. The operational efficiencies and enhanced sales and IT capabilities have seen the company maintain a stable staff profile since its IPO. The nine businesses acquired in that time are being successfully integrated while upholding a staff profile that maintains the companyâs focus on the customer and technology.
In FY 2018, the company has delivered revenues of $241.8 million, up 18% on the prior year. The Operating EBITDA was clocked at $111.8 million, up 19 percent on the preceding year. The operating NPATA was $78.0 million, up 22 per cent on the prior year and the statutory Net Profit After Tax of $59.3 million, was up 44 per cent on the preceding year.
On 18 February 2019, the Directors have declared a fully franked dividend of 21.0 cents per ordinary share taking the full-year dividends for 2018 to 41.5 cents per share. The final dividend will be paid on 15 March 2019 to shareholders registered on 1 March 2019 resulting in a total distribution of $27,500,000. As per the Companyâs Chairman Michael Carapiet, in 2018, the company has delivered on the companyâs strategy of providing exceptional service to its clients and increased dividends to the companyâs shareholders, while continuing to make Smartgroup an attractive place to work and being a responsible corporate citizen for its community.
Now, let us have a quick look at SmartGroup Corp Ltdâs stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $8.90, trading down by 9.184% during the dayâs trade with a market capitalisation of ~$ 1.28 Bn. The counter opened the day at $ 9.800, reached the dayâs high of $ 9.800 and touched the dayâs low of $ 8.750 with a daily volume of 1,845,957. The stock has provided a YTD return of 10.73% & also posted returns of -13.88%, -3.16% & 5.04% over the past six months, three & one-months period respectively. It had a 52-week high price of $13.350 and touched 52 weeks low of $ 8.390, with an average volume of 417,597 approximately.
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