Insignia Financial half-year 2024 results
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- Insignia Financial half-year 2024 results
Insignia Financial today announced UNPAT for the six months ended 31 December 2023 (1H24) of $95.5 million, an increase of 1.2% on 1H23. NPAT in 1H24 was a loss of $49.9 million (1H23: +$45.1million) reflecting expenditure on strategic initiatives and remediation.
Commenting on the result, Insignia Financial Chief Executive Officer, Renato Mota said:
“We are pleased to deliver a solid half year result, as we continue to execute on our strategic priorities.
“Following the acquisitions of ANZ’s Pensions & Investments business in 2020 and MLC in 2021, Insignia Financial is now one of Australia’s leading wealth managers. These acquisitions have played a key role in transforming the business and establishing a foundation for sustained growth. We have a diversified business model with a unique combination of capabilities delivering scale and value.
“Through disciplined execution we have delivered synergy benefits, integrated and simplified our product and operating structure, and enhanced our offering to clients, members, and advisers. The current period profit result reflects significant investments in future growth and our desire to complete the remediation programmes.
“It’s pleasing to see strong early progress against our FY24-26 strategic initiatives as we strengthen our foundation for growth and deliver the benefits of scale to our members, clients, and shareholders.”
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