The Smartgroup Corporation Ltd (ASX: SIQ) share price rose 1% in reaction to the company’s 2019 half year result.
Smartgroup is a salary packaging business that was set up in 1999 as ‘Smartsalary’. After many acquisitions it now operates fleet management and a range of other employee management services.
What Smartgroup Reported
Smartgroup reported that its revenue rose by 3% to $126 million and that its EBITDA increased by 4% to $58.9 million (click here to learn what EBITDA means).
Net profit after tax (NPAT) went up 6% to $30.86 million. The Smartgroup Board decided to increase dividends per share by 5% to 21.5 cents per share.
Smartgroup CEO Deven Billimoria said: “It has been another successful 6 months for the Group with positive financial performance, client growth and continued success in expanding our services offering. We have made progress with the integration of acquired businesses and we remain focused on operational excellence and improving customer outcomes.”
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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.