COG Financial Services, an ASX-listed provider of asset finance solutions, has reported a strong financial performance for the first half of FY2025, with a 7% increase in revenue, reaching $251 million. This growth reflects the company’s solid standing in the market, driven by its broker network and strategic business moves.
The revenue boost was primarily fueled by robust contributions from COG’s asset finance and novated leasing sectors, which continue to perform well despite challenges in the wider economy, including changes in tax incentives and a decline in consumer lending activity.
Mark Rayson, Head of COG Aggregation, highlighted the firm’s success in novated leasing and salary packaging, building on the solid financial results from FY2024. “Our asset finance aggregation has remained strong, with net assets financed hitting $4.2 billion in the first half,” Rayson said. This performance is especially notable given the broader market pressures.
COG’s significant achievements are also attributed to the company’s efforts to empower its broker network, which exceeds 8,500 accredited brokers. Despite a decrease in average deal sizes, brokers have increased loan volumes to the COG lender panel by 3%, contributing to a 6% rise in transaction numbers. Rayson credited the strength of the broker network for helping maintain momentum during challenging times.
Damian Mantini, Head of Strategic Partnerships at Platform Finance, added to the positive outlook, noting that over 6,900 deals were processed in the first half of FY2025, a testament to the active engagement of brokers and the effectiveness of strategic partnerships. Key performance metrics from Platform Finance showed a 4% increase in total settlements through the lender panel, despite a slight 1.7% decrease in average deal sizes, signaling a trend toward more economical client choices.
Strategic acquisitions have also played a pivotal role in COG’s growth. The company recently acquired Community Salary Packaging and Cap Coast Home Loans, enhancing its service offerings and strengthening its market position. “These acquisitions are a critical part of our strategy to deliver more value to clients and brokers alike,” said Rayson.
Looking ahead, COG remains well-positioned for continued expansion. With a strong balance sheet and healthy cash reserves, the company is committed to strategic investments in areas such as cybersecurity, the COG Connect broker platform, and retail fixed income products, all while maintaining solid capital management to support its long-term objectives.
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