McMillan Shakespeare hails ‘strategic progress’ as FY25 profit lifts 14%
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The news: Salary packaging and fleet management business McMillan Shakespeare delivered a 14.1% increase in net profit after tax to $95.2 million, with the company crediting a 4.1% increase in novated lease sales with new client wins and the rollout of novated leading platform Oly.
The numbers: The result marked an improvement from $83.5 million net profit last year and came in above the $96.6 million expected by analysts, according to Visible Alpha data.
Normalised revenue was up 3% year on year from $525.8 million to $541.6 million.
Normalised EBITDA of $120 million was down 8.9% year on year, which McMillan attributed to increased investments in the Oly rollout, customer experience enhancements, process automation and the Simply Stronger digital transformation project.
The company will pay total dividends of 148.0 cents per share, up from $1.54 last year, and topping consensus of $1.30.
What they said: McMillan Shakespeare CEO and managing director Rob De Luca said: “FY25 was a year of strategic progress while achieving revenue growth across all our business segments.” As part of the Simply Stronger program, the company “launched superior digital solutions to our customers including the MyMaxxia and MyRemServ apps…In Asset Management Services, our new digitised process simplified trade-ins for our Novated customers which saw a 19% increase in uptake half on half.”
The source: McMillan Shakespeare results
