SelfWealth Ltd. Reports Profit Increase Amid Turnaround

SelfWealth Ltd. (AU:SWF) has released an update.

SelfWealth Ltd. has reported a significant increase in profitability for FY24, with a net profit after tax of $3.4 million, up from $92,000 the previous year, despite a 6% drop in revenue due to a weaker trading environment. The company’s turnaround strategy has been effective, leading to a 13% growth in Funds Under Administration and a reduction in operating expenses by 16.6%. The leadership team has been refreshed, and the company achieved four consecutive quarters of positive operating cash flow.

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