Smartgroup Corporation has announced an 11 per cent increase in statutory profit, reaching $38.1 million for the half-year ended June 30. The company attributed this growth to increased novated leasing volumes and record numbers of salary packaging and fleet customers. Smartgroup Corporation specialises in employee benefits, fleet management, and salary packaging services. They provide solutions that help organisations attract, retain, and engage their employees.
Revenue for the period climbed 7 per cent to $159.1 million. Operating expenses also rose, increasing by 4 per cent to $89.5 million. A key driver of Smartgroup’s performance was the growth in its customer base. The company reported 484,000 active salary packaging customers, an increase of 82,000 compared to the same period last year. Novated leasing customers also saw substantial growth, reaching 80,000, up by 15,400.
New car lease orders experienced a 19 per cent increase, with electric vehicles (EVs) accounting for a significant 48 per cent of these new orders. This indicates a strong shift towards EVs within Smartgroup’s leasing portfolio.
The board has declared a fully franked interim dividend of 19.5¢ per share, reflecting an 11 per cent increase over the previous period. This dividend underscores the company’s solid financial performance and its commitment to delivering shareholder value.
