IGNITE Limited Reports Strong Profit Growth Despite Revenue Decline in H1 FY25

IGNITE Limited (ASX: IGN) reported a statutory profit of AU$615 thousand for the half-year ending December 31, 2024, reflecting a 189% increase from the previous year. Despite a 7% decline in revenue to AU$46.8 million, gross profit margin improved from 11.8% to 12.6%. EBITDA increased by 45% to AU$724 thousand. The company had AU$3.5 million in cash with no debt at the end of the period.

Specialist Recruitment, contributing 98.7% of revenue, experienced a 6.3% decrease in contingent labour revenue, though gross margin per contractor grew by 18.5%. The Technology Solutions division recorded an AU$169 thousand loss due to leadership investments and project conclusions.

The Board declared a fully-franked interim dividend of AU$0.035 per share, payable on March 21, 2025. IGNITE’s leadership remains focused on improving productivity and profitability, anticipating further financial growth throughout FY25.

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