Praemium forecasts finally moving into the black
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Specialist financial services technology platform provider Praemium has said it can become operating cash flow positive during the second half of next financial year.
The company, which has struggled to move into the black despite significant market growth over the past four years, made the prediction on cash flow positivity during a briefing to investors (the contents of which were released to the Australian Securities Exchange today).
The presentation, delivered by Praemium chief executive Arthur Naoumidis, pointed to revenue for the most recent financial year being up 33 per cent to $11.9 million on the back of 7 per cent growth in group’s V-Wrap portfolio numbers and 51 per cent growth in separately managed account funds under management.
Despite this, the briefing confirmed that the group’s earning before interest tax for the last financial year had remained in negative territory.
However looking over the horizon, the investor briefing pointed to growth build around the company’s Smartwrap product including supporting financial planners transitioning from commission-based remuneration to fee-for-service.
AUTHOR
Mike Taylor
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