Kelly Partners Group Holdings Ltd
ASX:KPG
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Kelly Partners Group Holdings Ltd
ASX:KPG
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Kelly Partners Group Holdings Ltd
Kelly Partners Group Holdings Ltd. is a single brand, owner-driver network, which engages in the provision of accounting and taxation services to private small-to-medium enterprises. The company is headquartered in North Sydney, New South Wales. The company went IPO on 2017-06-21. The firm operates through two segments: Accounting and Other services. The Accounting segment offers accounting and taxation services, corporate secretarial, outsourced chief financial officer (CFO), audits, business structuring, bookkeeping, and all other accounting related services. Its Other services offers financial broking services, wealth management, investment office and all other nonaccounting services. The firm network consist of approximately 26 operating businesses across 17 locations in Greater Sydney, Melbourne and Hong Kong.
Kelly Partners Group Holdings Ltd. is a single brand, owner-driver network, which engages in the provision of accounting and taxation services to private small-to-medium enterprises. The company is headquartered in North Sydney, New South Wales. The company went IPO on 2017-06-21. The firm operates through two segments: Accounting and Other services. The Accounting segment offers accounting and taxation services, corporate secretarial, outsourced chief financial officer (CFO), audits, business structuring, bookkeeping, and all other accounting related services. Its Other services offers financial broking services, wealth management, investment office and all other nonaccounting services. The firm network consist of approximately 26 operating businesses across 17 locations in Greater Sydney, Melbourne and Hong Kong.
Revenue Growth: Kelly Partners reported first half revenue of $76 million, up 17% from $64.9 million last year, with a current run rate of $164.2 million.
Profitability: Underlying EBITDA grew 15.2% to $21 million, with margins remaining strong and comparable to last year.
Capital Allocation: The company continues to prioritize acquisitions over buybacks despite recent share price declines, emphasizing long-term investments and strong ROIC.
Global Expansion: Operations expanded to Ireland and other countries, with international revenue now matching the size of the original 2017 Australia business.
M&A Pipeline: Six acquisitions were completed in the half, contributing to both organic and acquired revenue growth; pipeline remains robust and unaffected by share price movements.
AI & Technology: The company has shifted from AI joint ventures to building internal software and AI capabilities, focusing on differentiation and efficiency.
Strong Balance Sheet: Net debt to EBITDA stands at 1.79x after acquisitions, with management confident in the fortress balance sheet approach.
Future Outlook: Management remains confident in long-term value creation, maintaining high profitability and organic growth targets around 4-6%.
