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COG Financial Services reported steady earnings and a rise in broker numbers in FY25 despite what it described as difficult market conditions.
The company processed more than 8,000 new broker accreditations during the year, lifting broker numbers by 7%. According to Mark Rayson (pictured), head of aggregation, this growth reflected brokers’ ability to adjust to lower asset values and the end of government stimulus.
“Last financial year was tough for many brokers, with reduced asset values and the end of government stimulus, but our network has continued to grow and diversify. Brokers showed their strength by staying close to clients and maximising every opportunity. Through it all, COG has been a constant – providing the largest lender panel in the market along with the scale, stability and resources to help brokers navigate a challenging market and expand into new areas,” Rayson said.
That network expansion coincided with a solid financial performance. Underlying EBITDA rose 4% to $38.4 million, while revenue increased 1% to $363.5 million. Net assets financed reached $8.4 billion, representing an 8% compound annual growth rate over the past three years.
Diversification also played a role, with brokers broadening their focus beyond traditional asset finance. Damian Mantini, head of strategic partnerships at Platform Finance, said demand was pushing brokers into SME, personal, and other finance solutions.
“Brokers are adapting to client demand by going wider – and Platform Finance is helping them make that transition,” Mantini said, adding that Equifax data showed asset finance applications rose 1.4% in the June quarter compared with the same period last year.
COG said it continued to develop its COG Connect platform, expanding features through three dedicated teams. It also appointed a cyber security manager and accelerated investment in artificial intelligence. Mantini said these tools were improving approval times, client communication, and internal oversight.
The company also flagged signs of recovery in the final quarter of FY25, with expectations of stronger broker activity in FY26 as interest rate cuts flow through the economy.
“The final quarter indicated the cycle is beginning to turn, and we expect conditions to continue improving in the year ahead. We also expect more organic growth in our broker numbers as part of that momentum,” Mantini said.
