STEADFAST GROUP LIMITED Appendix 4D | 1
Steadfast Group Limited and controlled entities
Appendix 4D (rule 4.3A)
Preliminary final report for the half year ended 31 December 2022
Results for announcement to the market
(All comparisons to half year ended 31 December 2021)
2022 | Up/Down | Movement | ||||
$'m | $'m | % | ||||
Revenues from ordinary activities | 546.2 | 84.3 | 18 | |||
Underlying EBITA before non-trading items | 188.6 | 34.7 | 23 | |||
Underlying net profit after tax (NPAT) attributable to | ||||||
shareholders (Note 1) | 90.2 | 13.9 | 18 | |||
Statutory NPAT attributable to shareholders | ||||||
(Note 1) | 84.7 | (20.2) | (19) | |||
Total comprehensive income attributable to shareholders | 87.2 | (17.8) | (17) | |||
Note 1: | ||||||
The table below reconciles underlying to statutory NPAT, identifying non-trading items: | ||||||
2022 | 2021 | |||||
$'m | $'m | |||||
Underlying NPAT | 90.2 | 76.3 | ||||
Adjustments for non-trading items (net of tax and non-controlling | ||||||
interests): | ||||||
Deferred consideration expense for outperforming acquisitions | (8.3) | (1.4) | ||||
Mark-to-market gains from revaluation of investment in JLG | 1.8 | 15.2 | ||||
Net gain from change in value or sale of investments | 1.0 | 18.2 | ||||
Impairment of intangibles | - | (3.5) | ||||
Other non-trading items | - | 0.1 | ||||
Statutory NPAT | 84.7 | 104.9 | ||||
Some of the financial data in the table above is disclosed on an underlying basis to provide a more meaningful analysis of the Group's financial results from normal operating activities. The adjustments to statutory NPAT have been extracted from the books and records that have been reviewed. Underlying NPAT has been disclosed in accordance with ASIC's Regulatory Guide RG230.
Appendix 4D | 2
Dividend information
Franked | ||
Amount per | amount per | Tax rate for |
share | share | franking credit |
Cents | Cents | % |
Interim 2023 dividend per share
6.0
6.0
30
Interim dividend dates
Ex-dividend date
Record date
Payment date
27 February 2023
28 February 2023
22 March 2023
The Company's Dividend Reinvestment Plan (DRP) will operate by purchasing ordinary shares on market. No discount will be applied. The last election notice for participation in the DRP in relation to this interim dividend is 1 March 2023.
A copy of the full terms and conditions for the DRP is available at http://investor.steadfast.com.au/Investor- Centre/?page=Dividends.
31 Dec 2022 | 30 Jun 2022 |
$ | $ |
Net tangible assets per ordinary share*
0.02
0.01
- Net tangible assets per ordinary share are based on 1,038,561,895 shares on issue at 31 December 2022. There has been an increase of 60,967,950 in ordinary shares on issue since 30 June 2022.
Appendix 4D | 3
Other information
As at the end of the reporting period, Steadfast Group Limited held an interest in the following associates and joint ventures:
Ownership interest | |
% | |
Associates | |
Ausure Group Pty Ltd - associates thereof | 18.5% |
Baileys Insurance Ltd | 43.5% |
Baileys Premium Ltd | 40.0% |
Blackburn (Insurance Brokers) Pty Ltd and Liability Brokers Pty Ltd | 40.0% |
Collective Insurance Brokers Pty Ltd | 49.0% |
Covercorp Pty Ltd | 49.0% |
Coverforce Partners Pty Ltd - associates & joint ventures thereof | 45.9% |
Emergence Insurance Group Pty Ltd | 50.0% |
Flame Security International Pty Ltd | 26.3% |
Finpac Insurance Advisors Pty Ltd | 49.0% |
HJS Unit Trust | 33.3% |
J.D.I (YOUNG) Pty Ltd | 25.0% |
Johansen Insurance Brokers Pty Ltd | 48.4% |
Listsure Pty Ltd | 29.8% |
McLardy McShane Partners Pty Ltd and McLardy McShane Insurance Brokers Pty Ltd | 37.0% |
McKillops Insurance Brokers Pty Ltd | 49.0% |
Melbourne Insurance Brokers Pty Ltd | 49.0% |
Meridian Lawyers Limited | 25.0% |
Origin Insurance Brokers Pty Ltd | 49.0% |
QUS Pty Ltd | 45.0% |
Rothbury Group Limited and its subsidiaries and associates | 43.4% |
RSM Group Pty Ltd | 49.0% |
Sapphire Star Pty Ltd | 30.0% |
Southside Insurance Brokers Pty Ltd | 49.0% |
SRB Management Pty Ltd and its subsidiaries | 50.0% |
Steadfast Life Pty Ltd | 50.0% |
Sterling Insurance Pty Limited | 39.5% |
Transport Plus Insurance Brokers Pty Ltd | 49.0% |
Watkins Taylor Stone Insurance Brokers Pty Ltd and D&E Watkins Unit Trust | 35.0% |
Joint ventures | |
Ausure Protect Pty Ltd | 50.0% |
ABICO Insurance Brokers and its related entities (ABICO) | 50.0% |
Ausure City & Rural Pty Ltd | 50.0% |
BAC Insurance Brokers Pty Ltd | 50.0% |
Blend Insurance Solutions Pty Ltd | 50.0% |
Clubs New Zealand Insurance Services Ltd | 50.0% |
Quantaco Insurance Pty Ltd | 50.0% |
Rhymemat Pty Ltd | 34.0% |
Steadfast Valuation Holdings Pty Ltd and its subsidiaries | 50.0% |
U-Cover Pty Ltd | 50.0% |
U-Plus Pty Ltd | 50.0% |
Xenia Mutual Management Pty Ltd | 50.0% |
The aggregate share of profits after tax of associates and joint ventures accounted for using the equity method is $14.8 million.
Appendix 4D | 4
Additional Appendix 4D disclosure requirements can be found in the Directors' Report and the 31 December 2022 financial statements and accompanying notes.
This report is based on the consolidated financial statements which have been reviewed by KPMG.
Appendix 4D | 5
Attachment A
Steadfast Group Limited
Half Year Report - 31 December 2022
Attachments
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Disclaimer
Steadfast Group Ltd. published this content on 22 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2023 04:46:05 UTC.
