OneVue posts strong 1H17 results

OneVue has posted a net profit after tax increase of 117 per cent to $0.3 million for the half-year ending 31 December 2016.

In an announcement to the Australian Securities Exchange (ASX), OneVue said its total revenue increased by over 50 per cent over the prior corresponding period by $6.1 million to $18.5 million.

Operating expenses increased by 33 per cent to $17.5 million, driven mainly by acquisitions, and ongoing investment in growth.

Related News:

During the same period, its earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 212 per cent to $0.9 million.

OneVue said its unity registry funds under administration (FUA) increased by $23 billion for the half, closing at $436 billion, with transactions up 76 per cent. Fund services superannuation services FUA increased by 53 per cent and reached $1.7 billion.

Platform services delivered a record gross inflow of $616 million, up 27 per cent, taking FUA to $3.8 billion for the same period. Superannuation trustee services signed a new managed account client whilst funds under trusteeship grew by $443 million to $8.9 billion since the acquisition of Diversa in October 2016.

OneVue managing director, Connie Mckeage said: “This is an exciting phase for the company as the benefits of having diversified our operations and revenue streams begin to flow through to our bottom line”.

“All divisions without exception performed strongly, with recurring revenue now representing over 90 per cent of the total revenues,” she said.




Related Content

Janus Henderson positive on cost synergies

Janus Henderson Group (JHG), which is currently dual-listed in the US and Australia, is increasing expectations for recurring annual run rate pre-tax ...more

YBR reports FUM increase

Yellow Brick Road (YBR) Wealth Management has reported underlying funds under management (FUM) of $1.5 billion up to the fourth quarter of 2017, an in...more

Banks report modest profit increase: KPMG

The major Australian banks reported a modest increase in aggregate profits for the 2017 full year, with cash profit after tax of $31.5 billion, up 6.4...more

Author

Comments

Add new comment