Finexia Financial Group | Quarterly Activities Report
Friday, 29th July 2022
Quarterly Activities Report for the quarter ended 30 June 2022
SYDNEY Australia Friday, 29 July 2022 – Finexia Financial Group Limited (ASX:FNX) (“Finexia or “the Group”) is pleased to release its Appendix 4C and quarterly activities report for the three-month period ended 30 June 2022.
- Cash receipts from customers, distribution income and interest received for the quarter were approximately A$1.725M, which was largely in line with the A$1.7M generated in the prior quarter.
- Cash at bank was approximately $2.7 million as at 30 June 2022 ($2.9 million as at 31 March 2022).
In accordance with ASX listing Rule 4.7B, Finexia advises that approximately $172,000 was paid during the quarter to Finexia’s executive and non-executive directors in payment of their directors’ fees and other services.
In the June quarter, the Group’s financial performance across its operations remained relatively strong despite challenging headwinds in the economy. The Company overcame subdued equities markets, rising interest rates and inflationary pressures to marginally grow revenue compared to the March quarter.
In the period, Finexia successfully launched its maiden cryptocurrency product to the retail investor market (Finexia Crypto Collective). Notwithstanding the Collective launch coincided with significant volatility and ongoing erosion in crypto investor confidence, management are pleased with the investor response and remain committed to the Crypto Collective product.
The overall size of the Company’s loan book continued its incremental growth trajectory, achieving a substantive milestone in terms of overall size. Management remains steadfastly committed to prudently growing the loan operations and by extension reducing the cost of capital the Company is able to access for its lending business.
The Company continues to focus on its strategic commitment of growing out its Asset Management and Funds Management operations. In step with this initiative, the Company is in the later stages of comprehensive due diligence on a portfolio of complementary businesses to ‘bolt on’ to its existing investment in holiday and leisure accommodation operator, Stayco. Moreover, the Company’s investment in Stayco continues to perform, exceeding forecasts through continued efficiency gains and cost improvements.
During the quarter, the Company’s Funds Management division was mandated to manage a A$20M childcare incubation fund, investing in childcare businesses via the Finexia Opportunities Fund.
About Finexia Financial Group Limited
Finexia Financial Group Limited (FNX) is an independent financial services firm specialising in Asset Management, Equity Capital Markets, Private Debt Financing and Funds Management. Finexia offers a comprehensive range of investment, advisory, funding and market trading solutions, tailored to each client’s needs and objectives.