PEXA returns to profit in FY26 with $19.2M earnings
Full story: https://grafa.com/en/news/australia/pexa-returns-to-profit-in-fy26-with-19-2m-earnings
-
PEXA Group turned a $19.2 million statutory net profit after tax from continuing operations for the full year ended June 30.
-
Following the announcement, the PEXA share price was up at $8.09.
-
The company focused on continuing businesses, expanding UK digital remortgage services, and divesting non-core assets.
Digital property exchange provider PEXA Group (ASX:PXA) returned to profitability with a statutory net profit after tax from continuing operations of $19.2 million for the 12 months ended June 30.
The financial recovery contrasts with the prior period, during which the business recorded a statutory net loss after tax of $65.6 million.
"In Australia, we also continued to engage constructively with IPART through its review of ELNO service fees," said PEXA CEO and Group Managing Director Russell Cohen.
Group revenue rose 7% to $406.9 million while operating cash flow expanded 39% to $93.5 million, allowing leverage to drop from 1.8 times to 1.0 times.
Following the announcement, the PEXA share price was up at $8.09.
For FY27, group revenue is expected to be around $385-$415 million, while group net profit after tax is expected to be between $5 and $20 million.
The group expanded its platform operations internationally by delivering digital remortgage capability for NatWest in the United Kingdom ahead of schedule.
To streamline operations and focus on core services, the company completed a strategic review and executed the sale of its digital solutions businesses.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
