In its full-year results released to the ASX on Thursday, Fiducian reported a jump in gross revenue to $80.8 million from $73.3 million a year earlier.
Statutory net profit after tax (NPAT) was $15 million, up from $12.3 million a year ago, while underlying NPAT rose from $15.1 million to $17.7 million. EBITDA added 26 per cent to $26.1 million.
Funds under management, administration and advice (FUMAA) increased 10 per cent over the year to $13.5 billion.
In the executive chairman’s report posted to the ASX, Inderjit Singh said: “The board remains prudent, but is confident that the future of the business is positive and likely to continue to strengthen through organic growth and acquisitions of client bases that can benefit from the Fiducian process.”
As a result, Singh announced a fully franked dividend for the 2024 financial year of 39.3 cents, an increase of 30 per cent over the previous financial year.
“Our focus remains on the establishment of a business with a rock-solid foundation and growth strategies to enable upscaling on existing capacity and leveraging our controlled, relatively low fixed cost base. This strategy has benefited us in difficult and uncertain times with increasing revenues and growing profits,” Singh said.
Looking at its financial planning business, Fiducian said it saw net inflows from its adviser network of $281 million in its FY2023–24 results, helping boost its statutory NPAT.
During the year, funds under advice grew from $4.6 billion in June 2023 to $4.8 billion in June 2024.
“Unlike FY23, we had steadily rising markets and consistent positive net inflows from our financial adviser network helping to achieve a net revenue increase of 11 per cent compared to FY23,” the firm said.
“Practice managers are focusing on helping our financial advisers lift their revenue, attract more clients, and build their businesses. Our focus will remain on generating inflows through organic and inorganic growth, while further acquisitions of client bases continue to be negotiated.”
Shares in the business have risen 18 per cent since the start of 2024 and are up by 19 per cent over one year.
