Advisers using HUB24 up 14% in first half FY24–25

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In its first half results announcement on the ASX on Tuesday morning, HUB24 said that as at 31 December 2024, 4,886 advisers were using the platform. This was an increase of 361 advisers, up 14 per cent compared with the prior corresponding period, and followed the completion of 84 new distribution agreements over the period. “We’ve delivered strong financial results for 1HFY25 with an increase of 25 per cent in group revenue to $195.2 million and 40 per cent in underlying NPAT to $42.6 million over the prior corresponding period. Given this strong performance, we have announced a fully franked interim dividend of 24.0 cents per share (up 30 per cent on pcp),” HUB24 chief executive and managing director Andrew Alcock said.

The group also reported an underlying EBITDA of $77.6 million (up 41 per cent on 1HFY24), while its statutory net profit after tax (NPAT) of $33.2 million in 1HFY25 was up 54 per cent. Total funds under administration (FUA) grew to $120.9 billion as at 31 December 2024, with platform FUA increasing to $98.9 billion, though the firm noted that this has since grown further to $102.6 billion as at 13 February 2025. The growth was on the back of “record half-year platform net inflows”, which hit $9.5 billion, representing a 31 per cent increase on pcp.

The rest of this article can be found at ifa.com.au.