Prime Financial Group's annual meeting insights

Prime Financial Group (ASX:PFG) held its 2024 Annual General Meeting, highlighting strong financial performance and future growth plans. The company reported a 21% increase in revenue to $40.8 million and aims for 15-20% growth in FY25.

Prime Financial Group's growth outlook

Prime Financial Group reported impressive financial results for FY24 and laid out ambitious growth plans at its AGM. With a 21% increase in total revenue and an 18% rise in underlying EBITDA, the company is poised for further growth. Prime aims to grow revenue by 15-20% in FY25 and double it to $100 million within 3-5 years. Their strategy includes organic growth, talent recruitment, cross-delivery of services, and EPS-accretive acquisitions. Recent acquisitions of Altor Capital and Equity Plan Management are expected to bolster their capabilities. Prime's financial strength is supported by a $3.3 million fundraising and a new $41.4 million facility agreement with Westpac. The company is focused on maintaining a culture of ownership and innovation, with significant staff ownership and an emphasis on strong corporate governance.

Executive commentary from AGM

The 2024 financial year was a significant period for Prime, marked by strong financial performance and strategic advancements. We are committed to achieving our ambitious growth targets and further enhancing our capabilities through strategic acquisitions and our OneConnected business model.