Overview of Link Group's 1H FY24 financial results

Link Administration Holdings Limited (ASX: $LNK) has reported its 1H FY24 financial results, showing a significant growth in operating EBIT of 10.8% and a 13.8% increase in revenue compared to the same period in the previous year. The company's operating EBITDA, operating NPATA, and net operating cash flow have also shown positive changes, reflecting the company's strong performance in the first half of the financial year.

Executive commentary on 1H FY24 results

Vivek Bhatia, Chief Executive Officer and Managing Director, highlighted the company's achievements in simplifying, delivering, and growing its operations. He emphasized the successful adoption of AI capabilities, improvement in straight-through processing rates, and the company's strong member account growth. Andrew MacLachlan, Chief Financial Officer, discussed the company's financial position, including the increase in revenue, operating EBIT, and operating EBITDA, as well as the impact of inflationary pressures on operating costs.

Summary of 1H FY24 results and outlook

Link Group's 1H FY24 results demonstrate a robust financial performance, with significant growth in operating EBIT and revenue. The company's focus on simplifying its operations, delivering on its commitments, and driving growth has yielded positive outcomes. Looking ahead, Link Group has re-affirmed its guidance for the full financial year, expecting operating EBIT growth of between 7% and 9% for Continuing Operations. The company also anticipates revenue growth of at least 6.5% for the full year, with a strong emphasis on maintaining a sustainable, caring, and inclusive organization.