Prime 1H20 revenue stays at $11.1m

Prime Financial Group Ltd has reported unchanged 1H20 revenue on 1H19 at $11.1m while earnings before interest, depreciation and amortisation (EBIDA) was up 15% to $2.4m.

Total revenue in the period was derived from customer contracts, up 6%. Net profit after tax was down 13%, to $1.2m.

Revenue from wealth management and SMSF operations was down 3% to $4.9m, while revenue from accounting, business advisory and capital was up 14% to $6.2m.

Prime’s FY20 outlook includes 5% increase on FY19 in revenue from customer contracts and 30% rise in EBIDA.