Praemium (PPS) 52c

PPS +25.3%: While its coming off a low base, the result today for Praemium showed some real progress and could well be the turning point for the investment platform provider;

• FY24 revenue of $84.9 million was up 12% on FY23
• NPAT was down on the year to $8.8m, though the 2H24 has turned a corner with product re-pricing and more portfolios coming onto the platform.
• 2H24 earnings were up 39% YoY , and show a meaningful change in the business, with EBITDA of $21.5 million over the final six months of FY24

This was a solid update from PPS, and we now think FY25 will mark a return to earnings growth.