SelfWealth Ltd (ASX: SWF) has reported its financial performance for the fiscal year ending June 30, 2023 (FY23). SelfWealth achieved its first-ever profit, posting an EBITDA of AU$4.0 million and a Net Profit After Tax (NPAT) of AU$0.1 million. Strong financial indicators across all metrics underpinned the company's maiden profit. Total revenue surged by 45% to reach AU$29.4 million, primarily bolstered by interest income, which soared from AU$5.9 million in the previous corresponding period (pcp) to AU$20.4 million. Gross profit for the period amounted to AU$20.3 million, marking a significant 111% increase compared to pcp.
The rise in the RBA cash rate in the past year resulted in a higher Net Interest Margin on customer cash balances, offering a natural safeguard against a subdued market sentiment. Equities trading revenue totalled AU$8.4 million, contrasting with the AU$13.8 million recorded in the pcp. Operating costs expanded to AU$17.5 million, representing a 10.1% increase compared to pcp.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
