Prime Financial Group (PFG) H2 2025 earnings summary

Executive summary

• Revenue grew 21% year-over-year to $49.4M, exceeding guidance, with ongoing revenue from continuing operations at AUS 55 million.

• Underlying EBITDA rose 17% to $11.9M, and reported EPS increased 37% to 1.87 cps; NPATA up 42% to $5.9M.

• Funds under management increased 58% to $1.9B, driven by organic growth and the Lincoln acquisition.

• Lincoln acquisition added 3,300 high net worth clients and AUS 600 million in funds under management, expanding the client base tenfold.

• Strategic focus on M&A, technology integration, and scaling recurring revenue streams via the OneConnected strategy.

Financial highlights

• Reported EBITDA up 39% to AUS 10.6M; underlying EBITDA margin at 24%, down from 25% prior year.

• Revenue per FTE increased 6% to AUS 220,000; labor costs stable at 55% of revenue.

• Operating cash flow declined to AUS 2.9M from AUS 5.7M year-over-year, due to higher working capital.

• Dividend increased 5% to 0.89 cps (final), with total annual dividends up 4% to 1.66 cps.

• 70% of revenue is recurring, supporting earnings stability.

Outlook and guidance

• Targeting $100M in revenue by FY28–30, with a return to 30% EBITDA margin.

• Organic growth expected at 6–10% annually; 65–75% of future growth to come from acquisitions.

• Guidance for FY26 to be provided at the AGM in November; continued focus on growth and integration.

• Second half earnings expected to remain stronger than first half, maintaining a 1/3, 2/3 split.

• Plans to invest in people, data, technology, AI, and platform scalability.