Praemium forecasts finally moving into the black
|
|
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
Recommended for you
More than 25 winners have been announced at the second annual Australian Wealth Management Awards.
A former financial adviser has been extradited from New Zealand after being alleged to have misappropriated $4.1 million from 13 clients.
Adviser numbers have continued the winning streak for the 2025–26 financial year with the seventh consecutive week in the green, buoyed by a steady flow of new entrants.
Netwealth chief executive Matt Heine has explained the platform is focused on accelerating its share of the affluent advice market as its NPAT reaches $116 million.
