Clime Investment Management Ltd (AU:CIW) has released an update.
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Clime Investment Management Limited has announced a statutory loss of $3.8 million for FY24, including a $1.6 million operating loss, amid a recent restructure which has led to a return to operating profit in the early months of FY25. The sale of their adviser licensing business, Madison, and subsequent cost reductions have bolstered the company’s outlook, with CIW now targeting a $2 million annual operating profit. With $1.6 billion in funds under management and the potential market being over $4 trillion, CIW is optimistic about future growth and aiming for a 30% operating margin by FY26.
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