Prime Financial Group (PFG) AGM 2025 summary

Opening remarks and agenda

• Chairman welcomed attendees, confirmed quorum, and outlined the meeting agenda, including financial review, Q&A, and voting procedures.

• Hybrid format enabled both in-person and virtual participation, with online voting facilitated by Computershare.

Financial performance review

• Total revenue increased by 21% to $49.4M, with a run rate exceeding AUD 55 million for FY 2025.

• Revenue doubled since FY 2022, surpassing the three-year goal; underlying EBITDA up 17% to $11.9M, reported EBITDA up 39%, and NPAT/NPATA up 42% to $5.9M.

• Funds under management surged 58% to $1.9B, with an increase of 3,300 high-net-worth clients via acquisition.

• Revenue per FTE increased by 6% to $220K; recurring revenue now at 70%, expected to reach 80%.

• Final dividend increased by 4% to 1.66 cps, with a final dividend for FY25 set at 0.89 cps.

Board and executive committee updates

• Welcomed Sharon Papworth as Chief Financial Officer, bringing experience in leadership, planning, and governance.

• Directors include Simon Madder (Managing Director & Chairman), Andrea Slingsby, Tim Bennett, and Matt Murphy.

• Expanded team ownership model to include overseas members; 14 new team members added to ownership program.