Income Asset Management Group Limited (AU:IAM) has released an update.
Income Asset Management Group Ltd reported a robust FY2024 with a 19% increase in Assets under Administration to $3.69bn and a 65% rise in client numbers, signifying strong market growth. While revenue remained steady at $14m, the company is optimistic about FY2025, having made strategic decisions to outsource its platform solution, which is expected to save $4m annually and improve profitability. The firm also cleared its balance sheet of non-cash write-downs totaling $7m, setting a more solid foundation for the coming fiscal year.
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