N1 Holdings (ASX:N1H) has reported a 25.4% increase in revenue to $10.63m for the half-year ended 31 December 2024, driven by growth in its commercial lending operations. Net profit after tax rose 13.2% to $632,535.
The company declared a dividend of 0.3 cents per share, marking its first payout in recent periods.
Lending remains primary revenue driver
N1’s commercial lending division continued to dominate revenue, contributing 96.2% of the total at $10.23m, up 24.5% from the prior period. Mortgage broking revenue increased to $386,091, while advisory, real estate, and migration services contributed a combined $15,100.
During the period, N1 managed over $205m in committed lending capacity, consisting of $35m in balance sheet capital, $150m in debt facilities, and $20m in managed mortgage funds.
Risks and outlook
The company highlighted key risks, including credit risk, compliance challenges, funding constraints, and market volatility. Management noted that potential interest rate stabilisation or reductions could support further lending growth.
N1 ended the period with net assets of $2.02m, an increase from $1.69m in June 2024.
