SelfWealth H1 24 Results Overview

SelfWealth Limited (ASX: $SWF) has reported its half-year results for the period ended 31 December 2023. The company achieved a record half-year NPAT of $1.6 million, marking a significant increase of $1.5 million from the previous corresponding period. Operating cash flow also saw a substantial rise, increasing by 125% to $1.3 million. SelfWealth's strong financial position is evident with a cash balance of $12 million and no debt. The company has now achieved five consecutive quarters of positive cash flow, demonstrating its continued profitability and stability.

Executive Commentary on H1 24 Performance

The company's focus on profitable growth has yielded positive results, with underlying EBITDA for the half reaching $3.5 million, excluding non-recurring cost reduction implementation expenses totaling $1.8 million. Despite subdued trading conditions in the ASX market, SelfWealth has maintained a stable active client base retention and a deliberate customer acquisition strategy to target high-value customers. The new leadership team has been instrumental in scaling the business for sustainable growth, with a specific focus on improving customer experience and driving business strategy.

Summary of H1 24 Highlights and Outlook

SelfWealth's H1 24 results reflect its continued profitability and strong financial position, with a record half-year NPAT of $1.6 million and a 125% increase in operating cash flow. The company's deliberate customer acquisition strategy and focus on high-value customers have contributed to the growth momentum in key metrics. The new leadership team's strategic focus on scaling the business for long-term, sustainable growth is evident in the elevated customer experience and the company's stronger position. Looking ahead, SelfWealth aims to capitalize on its market-leading capabilities to support its purpose of wealth building and management, leveraging its competitive advantage as a trusted leading challenger brand in the retail brokerage space.