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Steadfast Group Releases 1HFY21 Financial Results

23 Feb 2021  |  17:59:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: 1HFY21 Financial Results Market Release

Steadfast Group announced record half year 2021 results with underlying EBITA and underlying NPAT both up 19.3%. The Broking revenue increased by 7.5% with 4.2% from organic growth and 3.3% from acquisitions. Underlying EBITA growth of 22.9% was driven by both organic and acquisition growth, benefiting from the continuation of premium rises by insurers and continued drive for cost savings within the network. Volumes continued to be stable throughout the period. Steadfast Underwriting Agencies continue to deliver excellent organic growth, benefiting from higher premium pricing by insurers, cost savings, and an increase in market share. The Board has declared a fully franked interim dividend of 4.4cps, up from 3.6 cps (+22.2%) in 1H20.

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