General Capital (GEN) H1 2025 earnings summary

Executive summary

• Achieved record half-year results for the six months ended 30 September 2024, with revenue up 39% and net profit after tax up 31% year-over-year, marking the strongest half since listing in 2018.

• Announced first-ever fully imputed dividend of 0.55 cents per share, rewarding shareholders and reflecting confidence in financial resilience.

• Total assets increased 15% since 31 March 2024, reflecting sustained growth despite economic headwinds in New Zealand.

Financial highlights

• Revenue from continuing operations rose to $10.84 million, a 39% increase compared to the same period last year.

• Net profit after tax reached $1.572 million, up 31% year-over-year.

• Earnings per share increased to 0.57 cents (adjusted for share consolidation), up from 0.44 cents.

• Net tangible assets per share rose to 28.28 cents, a 325% increase year-over-year, due to share consolidation.

• Net assets per share increased to 31.19 cents, up 323% year-over-year.

Outlook and guidance

• Board and management express confidence in continued growth, supported by strong financial performance and strategic acquisitions.

• Focus remains on navigating regulatory changes under the Deposit Takers Act 2023 and sustaining robust financial results.

• The Deposit Compensation Scheme is expected to boost confidence and interest in the sector.