IVE Group Limited (ASX:IGL) Announces H1 2024 Financial Results
Financial Performance
IVE Group Limited reported a 0.5% increase in revenue to $510.2m and a 108% rise in net profit to $27.087m for the half-year ended 31 December 2024.
Operational Achievements
The company achieved full realization of Ovato and JacPak cost synergies and expanded its third-party logistics with a new 32,000m² site in Dandenong South, Melbourne. Additionally, the Lasoo e-commerce platform continued to show strong growth, exceeding expectations with an annualised gross transaction value of $27m in November 2024.
Dividends
A fully franked interim dividend of 9.5 cents per share was declared, unchanged from the previous period, to be paid on 16 April 2025.
Future Outlook
IVE Group has revised its FY25 underlying NPAT guidance to $47m-$50m and initiated a share buyback of up to $10m, reflecting confidence in its strong financial performance and future growth initiatives.
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