Fiducian Group (FID) AGM 2024 summary

Opening remarks and agenda

• The 28th AGM was held in Sydney and online, with shareholders able to attend, ask questions, and vote virtually or in person.

• Directors, key executives, and the auditor were introduced at the start of the meeting.

• The agenda included the financial report, remuneration report, director re-election, share options, and other business.

Financial performance review

• Net revenue rose 11% to AUD 60.6 million; underlying NPAT increased 17% to AUD 17.7 million; statutory NPAT up 22% to AUD 15 million.

• Underlying EPS increased 17% to AUD 0.563; FUMAA grew 10% to AUD 13.5 billion as of June 2024, and reached AUD 14.2 billion by September.

• Net operating cash flows increased to AUD 19.5 million; cash at year-end was AUD 26.6 million.

• No shares were bought back during the year; 31.44 million shares remain on issue.

Board and executive committee updates

• The board and management worked cohesively, with new director Kerry Skelton’s appointment ratified.

• The executive leadership team structure and succession planning were detailed, ensuring business continuity.