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WT Financial Group Ltd. ( (AU:WTL) ) has issued an update.
WT Financial Group Limited announced a significant increase in its half-year results for 2024, reporting a 33.5% rise in revenue to $106.30 million and a 35.8% increase in underlying net profit before tax to $2.45 million. This growth is attributed to the company’s disciplined approach to integration and operational efficiency, successfully aligning its networks under a unified framework. The company anticipates declaring a fully franked interim dividend, reflecting its confidence in future growth and commitment to rewarding shareholders. The outlook for the company remains positive, driven by the increasing demand for financial and personal risk insurance advice, as well as M&A support, positioning WT Financial Group as a leader in the financial advice industry.
More about WT Financial Group Ltd.
WT Financial Group Limited is one of the largest financial adviser networks in Australia, providing wealth management, retirement planning, and personal risk insurance advice services through about 400 privately-owned advice practices. These advisers operate under subsidiaries like Wealth Today, Sentry Advice, Synchron Advice, and Millennium3. The company’s B2C division offers financial advice directly to wholesale and retail clients under the Spring Financial Group brand, while its Wealth Adviser division delivers services and solutions to advisers and clients, including professional development programs and financial literacy publications.
YTD Price Performance: 27.78%
Average Trading Volume: 157,592
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$39.35M
See more insights into WTL stock on TipRanks’ Stock Analysis page.
