Liberty Financial Group results hit ASX

by Mike Wood30 Aug 2021

Liberty Financial Group (LFG) has announced its results to the ASX, with huge growth in profits and gross assets.

NPAT rose 38% to $185.4 million, while a Gross Financial Assets went about $12 billion, rising by 5% in total.

These are the first results that Liberty has put to the ASX since their IPO, and saw its stock price rise to 7.21c.

“Liberty’s business partners and customers have shown tremendous resilience during the pandemic,” said CEO James Boyle.

“LFG reported 17% growth in new loans to $4.1 billion as well as a reduction in customers impacted by COVID to 0.7% of the portfolio as at 30 June 2021 (9.7% as at 30 June 2020).”

“The current Australia wide lockdown and speed of vaccination rollout is causing continued short-term economic uncertainty impacting customer sentiment. However, all things equal, we remain confident of generating further value for Securityholders in FY22.”

Chief Financial Officer Peter Riedel added that capital was strong.

“LFG’s capital and liquidity position remains in a strong position to continue supporting our customers and business partners,” he said.

“LFG established eight new funding vehicles in FY21 raising $4.9b in the new liquidity. During the year, Standard & Poor’s placed Liberty’s investment grade credit rating on positive outlook.”