HUB24 Limited released its 1HFY23 results; NPAT increased by 87%

On 21 February 2023, financial services provider HUB24 Limited (ASX: HUB) has released its 1HFY23 results, reporting:

• It’s Underlying Net Profit After Tax (NPAT) of AU$26.6 Million, which is an 87% increase from 1HFY22.
• The Group’s Underlying EBITDA also saw a significant rise, reaching AU$49.9 Million, which is a 68% increase from the same period last year.
• The company reported a statutory NPAT of AU$15.5 million, an increase of 85%, which includes AU$2.8 Million (after tax) of strategic and project costs.
• The earnings per share increased by 59% to 18.9 cents per share, and the company’s directors have declared a fully franked interim dividend of 14.0 cents per share, which is an 87% increase from 1HFY22, to be paid on 18th April 2023.
• The total Funds Under Administration increased to AU$73.0 billion, with Platform Funds Under Administration (FUA) reaching AU$55.8 billion and PARS FUA of AU$17.2 billion as of 31 December 2022. The platform net inflows for the period from continuing operations were AU$5.8 billion.

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