Praemium (ASX: PPS) kickstarts FY24 on a positive note, FUA rises 8% yoy in Q1

Tue 21 Nov 23, 04:29 AM | Team Kalkine

Image source: Golden Dayz

Highlights

Praemium offers investment platforms, portfolio administration and financial planning tools

The Vanguard Group Inc. holds the highest stake in PPS with a shareholding of around 2.60%

The company is focused on existing market opportunities such as increased demand for fixed income assets, personalized services and diverse investment options

Praemium Limited (ASX: PPS) is an ASX-listed fintech firm that offers investment platforms, portfolio administration and financial planning tools to the wealth management industry. PPS is an AUD 291.97 million market cap firm.

In the fiscal year 2023, the company registered a 17% YoY increase in revenue from continuing business to AUD 74.3 million. It is driven by a 20.26% YoY increase in platform revenue and an 8.52% rise in portfolio services revenue. During the stated period, statutory NPAT zoomed by 307.26% to AUD 15.15 million.

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