IPD Group Outperforms FY22 with Strong FY23 Earnings Guidance

IPD Group Limited (ASX: IPG) has released its earnings guidance for the financial year ending on June 30, 2023 (FY23), expecting to surpass its FY22 full-year results. The Company's strong operating performance, previously announced on February 24, 2023, has contributed to this outlook.

Based on unaudited accounts for the 11 months of FY23 trading until May 31, 2023, and a robust June 2023 earnings forecast, IPD provides the following FY23 full-year earnings guidance range: EBITDA of AU$27.1 million - AU$27.6 million (compared to FY22's AU$20.2 million) and EBIT of AU$22.9 million - AU$23.4 million (compared to FY22's AU$16.6 million). CEO Michael Sainsbury attributes the strong result to the continued momentum from the first half of FY23 and the positive impact of the electrification of the economy, underscoring the effectiveness of their operating model.

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