Smartpay Holdings Limited (ASX:SPY) Reports 8.28% Revenue Growth
Financial Performance
Smartpay Holdings Limited (ASX:SPY) reported an 8.28% increase in revenue from continuing operations, amounting to $50,796,000 for the six months ended 30 September 2024. However, the company experienced a significant decline in net profit, reporting $907,000 for the period, which is a 65.60% decrease compared to the previous year. Total net profit was reported at $879,000, down 67.22% from the prior comparable period.
Dividend Declaration
The company has decided not to propose any interim or final dividends for this reporting period.
Net Tangible Assets
Net tangible assets per quoted equity security decreased to $0.04, down from $0.05 in the previous reporting period. The financial figures are accompanied by unaudited statements for comprehensive understanding.
Executive Comments
Marty Pomeroy, Chief Executive Officer, expressed that the results highlight both progress in revenue generation and areas needing improvement in profitability. The team remains focused on strategic initiatives to enhance performance.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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