NZbrokers parent announces 2020 results, dividend details

NZbrokers parent announces 2020 results, dividend details | Insurance Business New Zealand

NZbrokers parent announces 2020 results, dividend details

AUB Group Limited – the name behind insurance broking networks NZbrokers and Austbrokers – has released its financial results for the full year ended June 30.

During the 12-month period, AUB Group’s revenue from ordinary activities rose 9.2% to AU$335.36 million (around NZ$368.34 million). Reported net profit after tax (NPAT), or net profit attributable to members, amounted to AU$47.25 million (around NZ$51.9 million). The figure represents a 2.3% decrease from the corresponding result in 2019.

Meanwhile the group’s underlying NPAT, which is used by management and the board to assess underlying business performance, improved 15.2% to AU$53.42 million (around NZ$58.67 million).

“I am extremely pleased to report our FY20 results, the strongest year-on-year growth results for the group in seven years,” said AUB Group chief executive and managing director Michael Emmett, who described 2020 as a year of significant change for the business.

“Despite a challenging external market environment with significant headwinds for our clients and insurance partners, AUB Group’s portfolio has proven to be resilient and defensive, delivering a strong result while maintaining a consistent focus on our FY20 execution priorities that enhance our underlying growth drivers.”

The group also announced that the deferred payment of the fully franked interim dividend on ordinary shares for the year to June 30 will be paid on September 03. The AU14.5¢ dividend was originally scheduled to be paid on April 03.

Additionally, today the board declared a fully franked final dividend of AU35.5¢ per share payable on October 08.