Aspen Group Limited (ASX:APZ) Reports Strong Half-Year Performance
Financial Performance
Aspen Group Limited reported half-year revenues up 20.1% to $50.894 million and a profit after tax increase of 39.9% to $31.173 million. Underlying Operating Earnings rose by 30.9% to $16.136 million. Basic earnings per security stood at 15.59 cents, up from 12.38 cents in the previous period.
Distributions
On 19 December 2024, Aspen Group declared an interim distribution of 5.00 cents per ordinary security for the half-year ended 31 December 2024. The distribution has a record date of 31 December 2024 and will be paid on or around 28 February 2025.
Financial Position
The company’s net asset value increased by 5% to $457.396 million. Aspen reduced its total financial debt by 14% to $143.247 million, lowering its gearing ratio from 26% to 21%, below the long-term target range of 30-40%.
Development Segment
Aspen’s development segment showed significant growth with profit up 68% to $5.45 million and a margin increase to 33%. The development pipeline expanded by 25% to 1,104 approved sites, aiming to more than double production in FY25.
Motley Fool contributor Matt Burgess 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 recommended Aspen Group. 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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