Prime (PFG): 2016 Full Year Results




2016 Full Year Results Summary


Financial Key Points:


  • Profit Before Income Tax up 5% to $3.94M compared to FY2015 of $3.76M (excluding impairment)
  • Profit After Income Tax up 20% to $3.23M compared to FY2015 of $2.70M (excluding impairment)
  • Earnings Per Share (EPS) 2.22 CPS up 19% compared to FY2015 of 1.86 CPS (excluding impairment)
  • Final Dividend of 0.40 CPS


Key Developments


Corporate Development


  • Established or agreed to establish two new wealth JV’s with Accounting Firms
  • Increase in investment in Accounting & Advisory Firm MPR Group Pty Ltd (MPR) from 10% to 40% (9/12/2015) then to 93% (5/8/2016)
  • Through MPR, Prime acquired a Melbourne accounting client base (Watermans) that Prime already held a minority ownership in (26/8/2016)




  • Implementation of Prime’s ‘Accountant Advisory Board’ to help guide future strategies around CRM, database development and more Integrated Client Engagement
  • Delivery of Strategic Marketing support to Accounting Partners
  • Increased budget allocation & resourcing for development




  • Prime are increasing investment in Technology and have also engaged a Chief Technology Officer (CTO) to lead Technology development. This is a key component of Prime’s overall business strategy




Increased Financial Advisory staff for growth in:

  • New South Wales; and
  • Western Australia


Progress has also been advanced to further imbed Prime’s global resourcing platform which is a cornerstone part of Prime’s strategy.


Investment Advice


  • Substantially increased use of Prime Separately Managed Accounts (SMA’s)
  • SMA Funds Under Management (FUM) were $96M at 30 June 2016, up from $19M a year earlier
  • Rollout of Prime International SMA on 18 February 2016



FY2017 Focus


The plan for FY17 is to:


  • Continue to proactively undertake acquisitions
  • Invest further in Technology and Prime Client Engagement Platforms
  • Build and market the Prime brand to support Complete Accounting, Wealth Management and Advice
  • Continue to differentiate at a client solution level
  • Foster a culture of innovation




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By | 2017-06-16T15:16:18+11:00 August 29th, 2016|Prime Financial Group|0 Comments

About the Author:

Prime is an Integrated Wealth Management Firm for business owners and family groups. Prime’s goal is to become the Premier Partner to Accountants for Growth, Succession and Integrated Wealth Management and to deliver personalised advice to clients for a secure financial future.