Diversification drives growth in the 2014/15 financial year

Indue’s Chairman, Dawson Petie

At Indue, we unlock and reveal what’s possible to support our clients in whatever market they operate – unveiling opportunities and giving them a competitive edge to attract and retain customers.

In 2014/15 we experienced strong operating growth. This was against the background of significant change in the financial services industry.

Our industry has commenced the move towards making real-time payments a reality in the Australian payments system. We recognised the strategic importance of this shift, and during the year became a foundation member of the New Payments Platform, which aims to build and develop this capability. Long-term, we see great potential in this New Payments Platform for Indue and for our members and customers.

A year of performance and growth

It was a year of achievement and strong progress for Indue. Our net profit before tax, on a consolidated basis, was $5.6 million and represents operating growth of 22 per cent from the year before. This result enables us to declare another sound return, with ordinary dividends for the year of $1.2 million or $12 per share. As part of our continued growth, these are some important highlights:

  • Indue maintained consistent financial performance and reliable returns for our members.
  • We continued to focus on our heritage mutual business and our diligent implementation of our diversification strategy.
  • This diversification strategy continues to be a rich source of growth which makes our business more resilient.
  • Our success in extending our reach beyond traditional markets continues to be the fastest growing part of our business.
  • Indue’s Sydney based software house has become a core part of our business and underpins our future success.
  • We have a strong focus on our risk management capability as well as IT security and governance.
  • Indue’s strength and continued success comes from its high quality people. This year we have made some significant appointments in distribution and account management which will ensure we continue to customise solutions to our clients’ evolving requirements.

Looking ahead

For us, innovation and customer service go hand-in-hand. What makes this a powerful combination is creativity – the ability to think differently about old problems; to reinvent what already exists. Only then can we customise solutions to our clients’ very specific requirements and deliver a compelling customer experience.

We are planning for another year of strong revenue growth and earnings. We are also confident that we will continue to provide great value and service to our customers. We are excited about the many new opportunities for Indue as we continue to diversify our business and embrace innovation in the payments industry.

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