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Hub24 profit flat as M&A costs weigh

Aleks Vickovich

Key Points

  • Revenue ($m) 64.1, up 19pc from year-earlier 53.9
  • Pre-tax profit ($m) 9.2 v 8.6
  • Net profit ($m) 6.1 v 6.0
  • Interim dividend (¢) 4.5 v 3.5, payable April 19

Hub24 shares tumbled 3 per cent on Tuesday after the ambitious wealth management technology company reported profit growth of just over 1 per cent in first half.

Net profit was $6.1 million for the first half of the 2021 financial year, up just 1.4 per cent on the year before. Shares in Hub24 fell to $22.81 by 2.30pm (AEDT) in Tuesday’s trade.

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Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com

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    Original URL: https://www.afr.com/companies/financial-services/hub24-profit-flat-dividend-hiked-30pc-20210223-p574yd