Mcmillan Shakespeare Ltd
ASX:MMS
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Mcmillan Shakespeare Ltd
McMillan Shakespeare Ltd. engages in providing salary packaging, vehicle leasing and administration services. The company is headquartered in Melbourne, Victoria and currently employs 1,286 full-time employees. The company went IPO on 2004-03-15. The firm's segments include Group Remuneration Services, Asset Management and Retail Financial Services. Group Remuneration Services segment provides administrative services for salary packaging and facilitates the settlement of motor vehicle novated leases for customers, excluding financing ancillary services associated with motor vehicle novated lease products. Asset Management segment offers financing and ancillary management services associated with motor vehicles, commercial vehicles and equipment. Retail Financial Services segment provides retail brokerage services, aggregation of finance originations and extended warranty cover. The firm operates in Australia, United Kingdom and New Zealand.
McMillan Shakespeare Ltd. engages in providing salary packaging, vehicle leasing and administration services. The company is headquartered in Melbourne, Victoria and currently employs 1,286 full-time employees. The company went IPO on 2004-03-15. The firm's segments include Group Remuneration Services, Asset Management and Retail Financial Services. Group Remuneration Services segment provides administrative services for salary packaging and facilitates the settlement of motor vehicle novated leases for customers, excluding financing ancillary services associated with motor vehicle novated lease products. Asset Management segment offers financing and ancillary management services associated with motor vehicles, commercial vehicles and equipment. Retail Financial Services segment provides retail brokerage services, aggregation of finance originations and extended warranty cover. The firm operates in Australia, United Kingdom and New Zealand.
Revenue Growth: Normalized revenue rose 2.4% to $276.4 million, with growth across all three business segments.
Profit Down: Normalized UNPATA fell 6.7% due to higher expenses, but management expects second half profits to be higher than the first.
Strategic Investment: Significant investments were made in efficiency and growth programs, including $11.9 million total spend with $4.4 million in nonrecurring costs.
Dividend: Interim dividend of $0.71 announced, representing a 100% payout ratio of normalized UNPATA.
Onboard Finance: Receivables grew sharply by 97.4% to $411.4 million, and the business completed its first major securitization deal.
Order Momentum: Novated lease sales and orders saw robust growth, with continued momentum into the new year and strong performance relative to the market.
Cost Outlook: Nonrecurring costs are expected to reduce by about 75% in the second half, supporting improved profitability.
Guidance: Management expects normalized UNPATA for the second half of FY '25 to be higher than the first half, driven by revenue growth and operational efficiencies.
