COG (ASX:COG) shares in focus on Q3 FY22 unaudited results

April 13, 2022 12:25 PM AEST

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COG shares, share price of COG Financial Services Limited, COG Q3 FY22 unaudited trading results — Image source: © Pattanaphongphoto | Megapixl.com

Highlights

COG has announced its Q3 FY22 unaudited trading results.

The company is expecting an increase of over 45% in its NPATA.

COG is expected to pay a fully franked interim dividend of AU$0.035 to its shareholders on 28 April 2022.

Shares of COG Financial Services Limited (ASX:COG) were in focus on Wednesday (13 April 2022) after the company released its unaudited Q3 FY22 results. COG shares were spotted trading 3.378% higher at AU$1.530 per share on ASX at 10.13 AM AEST.

Today, the asset finance Group revealed that its underlying trading performance for the quarter is anticipated to be roughly AU$5.8 million of NPATA. According to the company, this represents an increase of 49% from the previous period (excluding Government subsidies).

COG shares have gained 45.71% over the last 12 months, while the stock is up 2% year-to-date (YTD).

As per the results, the company’s Finance Broking & Aggregation and Funds Management & Lending contributed AU$3.4 million and AU$2.3 million to the NPAT.

In Q3 FY21, the business’ net profit after tax and amortisation stood at AU$3.9 million. This included AU$2.4million from Finance Broking & Aggregation and AU$1.6 million from Funds Management & Lending.

Commenting on the Q3 FY22 (unaudited) results, COG CEO Andrew Bennett said that the Finance Broking & Aggregation Segment result is particularly impressive as there have been significant impacts on the supply of new equipment. Andrew stated that the company would start this next quarter with a solid forward order book.

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COG Financial Services Limited is an ASX-listed finance broker aggregator which is also in the equipment leasing business for SMEs. The company has a market capitalisation of AU$275.99 million.

The company is expected to pay a fully franked interim dividend of AU$0.035 to its shareholders on 28 April 2022.

Image Source: © Leeser | Megapixl.com

COG’s half-year results

In its results for the half-year ended 31 December 2021 (1H 2022), the company has declared an Interim dividend of 3.5cents per share, an increase of 187% from 1H21, representing a payout ratio of 62%. During this period, the company’s underlying revenue grew 19% on pcp while the NPATA to shareholders before government subsidies increased 25% on pcp.

COG is expected to pay a total dividend of AU$6.5 million on 28 April 2022 out of the company’s profits reserve as of 31 December 2021 to its shareholders registered on 25 March 2022.