SelfWealth Ltd. (AU:SWF) has released an update.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
SelfWealth Ltd. has reported a significant increase in profitability for FY24, with a net profit after tax of $3.4 million, up from $92,000 the previous year, despite a 6% drop in revenue due to a weaker trading environment. The company’s turnaround strategy has been effective, leading to a 13% growth in Funds Under Administration and a reduction in operating expenses by 16.6%. The leadership team has been refreshed, and the company achieved four consecutive quarters of positive operating cash flow.
For further insights into AU:SWF stock, check out TipRanks’ Stock Analysis page.