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Significant growth in AUM was recorded in the half year. Image: Canva
  • Funds from operations are up 60% from the previous corresponding period to reach 30 million
  • The assets under management has accumulated to reach $5.2 billion
  • Home Co CEO believes the company is on track to hit $10 billion by 2024

Home Consortium Limited (ASX: HMC) or Home Co. announced assets under management (AUM) of $5.2 billion its freshly released half year results for FY22.

The AUM figure is up 431% from the previous corresponding period (HY21).

Home Co. Managing Director and CEO, David Di Pilla, believes the company is well placed to reach a $10 billion AUM target by 2024.

“HMC is well capitalised with low gearing and has significant liquidity to support our growth ambitions,” he said.

To reach its target, Home Co. will need to demonstrate over 92% growth by the deadline.

“We are well positioned to grow AUM to over $10 billion by 2024,”

David Di Pilla, Home Co Managing Director and CEO

The company also reported a statutory profit of $78.3 million in its half year results.

Home Co trading results highlights

Movement Percentage HY22 HY21
Revenues from ordinary activities Down (32%)  $ 28,479,000  $ 41,894,000
Profit from ordinary activities after tax Up

 

239% $48,258,000 $ (34,698,000)
Profit/(loss) for the half-year for owners of Home Consortium Ltd Up 239% $ 48,258,000  $ (34,698,000)
Funds from operations (FFO) Up 65% $29,890,000 $18,714,000
FFO per security Up 41% 10.3c 7.3c

“The outlook for higher interest rates and inflation is driving increased market volatility and a repricing of risk assets in both Australia and globally.”

“The proposed establishment of HMC Capital Partners later this financial year will provide another growth platform and source of capital to take advantage of increased market volatility and target unique high conviction investment opportunities.”

“This is consistent with our strategy to establish scalable growth platforms and diversify our sources of capital,” Mr Di Pilla said.

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