Steadfast Group (ASX:SDF) Announces 1H25 Results
Financial Performance
Steadfast Group reported an underlying NPAT of $128.1m, up 20.9%, and underlying EBITA of $262.4m, a 14.6% increase. Revenue grew by 11.5% to $881.3m. Statutory NPAT after trading gains reached $106.4m, up from $100.4m in 1H24.
Operational Achievements
The Group’s underlying EBITA growth was driven by 9.1% organic growth and 5.5% acquisition growth. Steadfast Australasian Network brokers saw gross written premium increase by 7.9% to $6.5b. Steadfast Underwriting Agencies generated $1.22b of GWP, up 11.7%, with underlying EBITA rising by 15.8% to $106.4m. ISU Steadfast outperformed expectations, benefiting from expense discipline and strategic acquisitions, including H.W. Wood’s London and Greece businesses and HWI France.
Interim Dividend
The Board declared a fully franked interim dividend of 7.8 cps, a 15.6% increase from 6.75 cps in 1H24. The dividend is eligible for Steadfast Group’s DRP at no discount, with a payment date set for 27 March 2025.
Executive Comments
Managing Director & CEO Robert Kelly stated, “These results are again the consequence of the strategic execution of our proven business model. During 1H25, we continued to make accretive acquisitions, grow our businesses organically, optimise subsidiary performance, identify opportunities to hub our equity brokers and focus on margins and expense discipline.”
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 positions in and has recommended Steadfast Group. The Motley Fool Australia has positions in and has recommended Steadfast Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.