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Netwealth lifts profit by a third, hikes dividend

Aleks Vickovich
Aleks VickovichWealth editor

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Key Points

  • Revenue ($m) 72.4, up 23pc from year-earlier 58.7
  • Pre-tax profit ($m) 39.3 v 29.5
  • Net profit ($m) 27.6 v 20.5
  • Interim dividend (¢) 9.1, payable March 26

Fintech market darling Netwealth had a 35 per cent lift in profit as it claws new business from the big four banks and incumbent wealth managers, increasing its dividend by 15 per cent from the June half.

The wealth management technology provider made net profit of $27.6 million for the first half of the financial year, up 34.5 per cent on the year before.

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    Original URL: https://www.afr.com/companies/financial-services/netwealth-lifts-profit-by-a-third-hikes-dividend-20210217-p5737o