PSC Insurance Group Ltd releases preliminary FY23 results and optimistic FY24 outlook

Key Highlights:

• PSC's initial projection for FY24 indicates an underlying EBITDA range of AU$122 million to AU$127 million
• The Group anticipates achieving underlying EBITDA of around AU$111 million for the financial year 2023
• The Board expresses optimism about the Group's prospects, with all operating segments poised for growth

PSC Insurance Group Ltd (ASX: PSI) has announced its expectations for the financial year 2023, with an estimated underlying EBITDA of approximately AU$111 million. This result is still subject to audit and standard end-of-year signing processes. In August 2022, PSC set its guidance range for EBITDA at AU$101-105 million, but after a strong first half, the full-year guidance was upgraded to AU$104-108 million in February 2023. In the second half of the financial year, the Group has maintained strong performance, with all operating segments demonstrating positive outcomes.

Looking ahead to the financial year 2024, the Board is optimistic about the Group's prospects, and all operating segments are well-positioned for growth. As a preliminary guidance for FY24, PSC anticipates an earnings range of underlying EBITDA between AU$122 million and AU$127 million. This guidance will be confirmed after finalizing the FY23 audit, and more detailed information will be provided in the formal release of PSC's FY23 results.

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