E&P Financial Group (ASX: $EP1) First Half 2024 Results Briefing

E&P Financial Group Limited (ASX: $EP1) has made significant progress in achieving its strategic priorities and has reported its first half 2024 results. The company has settled a representative proceeding and is focusing on future growth initiatives across its divisions. The results briefing covers the period ended 31 December 2023 and provides insights into the company's financial performance and strategic direction.

Executive Commentary

The company has made substantial progress in simplifying its group operations and is now focusing on clear growth initiatives across its divisions. The settlement of the representative proceeding and the leadership transition mark important milestones for the company. We are committed to delivering sustainable returns to our shareholders and maintaining a disciplined focus on controllable costs.

Summary

E&P Financial Group (ASX: $EP1) has reported its first half 2024 results, highlighting strong growth in annuity-like revenue lines in the E&P Wealth division, offset by challenging market conditions for transactional revenue businesses in the E&P Capital division. The company's strategic focus includes accelerating client and funds under management (FUM) growth, delivering sustainable returns to shareholders, and attracting, retaining, and incentivizing its people. E&P Financial Group is well positioned for a growth trajectory, with a focus on delivering consistent earnings growth in the E&P Wealth division and strong revenue and earnings recovery in the E&P Capital division as market conditions continue to improve. The company is also nearing the completion of the wind-down of non-core strategies in the E&P Funds division and is committed to a full year dividend policy payout range of 75-85% of NPATA in a normal operating environment.