Financial year 2022 full year results
- Financial year 2022 full year results
Insignia Financial (ASX:IFL) today announced underlying net profit after tax (UNPAT) for the year ended 30 June 2022 (FY22) of $234.5 million, an increase of 59% on FY21. Statutory net profit after tax (NPAT) in FY22 was $36.8 million, including discontinued operations.
Commenting on the result, Insignia Financial Chief Executive Officer, Renato Mota said, “We delivered strong financial outcomes from the disciplined execution of our strategic priorities, and particularly from realising the benefits of the MLC acquisition.
“We experienced a 59% uplift in UNPAT, a marked turnaround of $3.1 billion improvement in platform flows (on a proforma basis), and integration is expected to be achieved 18 months ahead of plan.”
Against the backdrop of a growing superannuation sector and the largest intergenerational wealth transfer in history, Insignia Financial is well-positioned to deliver quality outcomes for clients and shareholders.
Capitalising on these structural tailwinds, the organisation will broaden the wealth proposition to address the growing demands across life stages, and enhance its product suite, supported by leading technology capabilities.
Mr Mota commented, “Our results demonstrate we are pursuing the right strategy and implementing it with focused and accelerated execution. Across all three businesses, we are realising our competitive advantage by leveraging scale and expertise, and delivering growth through simplification.
“Our transformation process has fundamentally changed our business, and we have built strong foundations to take advantage of the opportunities we see ahead.
“We will use our voice and scale to advocate for, and help shape, the industry to improve access to affordable financial help, guidance and advice for Australians.”
Mr Mota concluded, “We are building a business that is relevant, resilient and poised to deliver financial wellbeing for all Australians.”
Read a copy of the full ASX announcement