Generation Development Group Limited (ASX:GDG) Reports Half Year Financial Results
Financial Performance
Generation Development Group Limited reported a 155% increase in revenue to $377.767 million and a 1,699% rise in net profit attributable to members to $78.883 million for the half-year ended 31 December 2024.
Acquisition of Lonsec
On 1 August 2024, GDG completed the acquisition of the remaining shares in Lonsec, increasing its holding to 100% and transitioning Lonsec to a subsidiary. Lonsec contributed $37 million to revenue and $6.4 million to net profit.
Dividends
GDG declared a final 2024 dividend of 1 cent per security, paid on 7 October 2024, and an interim 2025 dividend of 1 cent per security, payable on 3 April 2025. Both dividends are fully franked.
Net Tangible Assets
Net tangible assets backing per security decreased to -15 cents from 30.7 cents, due to the investment in Lonsec.
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