Income Asset Management (IAM:ASX) has announced a strong start to the fourth quarter, achieving $4.05 million in revenue up to May 31, 2025, including a record $2.85 million in revenue for May alone. This surpasses the previous quarter’s $3.7 million and the consistent $4 million per quarter achieved in the two prior quarters. The company anticipates exceeding its normal average revenue for Q4, supported by a robust pipeline. IAM also reported a positive cash flow result in Q3, reflecting the company’s growth and performance improvement.
Key highlights for May include the execution of Debt Capital Market deals and improved secondary trading with clients, leading to the record revenue. IAM bid $300 million into the Macquarie Tier 2 public issue, marking its highest bid ever and highlighting its strong market presence. IAM also acted as the lead manager for a $175 million BB rated bond issuance by Magnetic Rail Group, with a 9.25% fixed rate due in May 2030. The company experienced a surge in trading activity, with 1,487 trades executed in May. This was efficiently managed through its partnership with Perpetual Custody Trust (PCT), avoiding the need for additional resource costs. Funds under advice exceed $2.37 billion, representing approximately 28% growth since May 2024.
CEO Jon Lechte attributed the strong performance to improved trade conditions and debt capital market performance. He also highlighted the investments made in people and the structure and scale provided to investors and clients. Lechte noted the partnership with PCT has enabled IAM to maintain a disciplined approach to operational costs as the company grows. With the recent RBA rate cut, bond yields are increasingly attractive, supporting IAM’s continued growth and client service. The company’s Annual General Meeting (AGM) will be held on November 12, 2025.
