General Capital Limited Analysis

Overview

General Capital was previously the listed shell Mykco.

General Capital purchased 2 financial services businesses ( General Finance Ltd, a licensed Non Bank Deposit taker established in 2001 and Investment Research Group Ltd.( IRG) , an NZX sponsor). The purchase was in August 2018 via the acquisition of a holding company Corporate Holdings Ltd.

Performance

The following information was extracted from General Capital Limited's Full Year report, released 27 May 2024:

The Directors of General Capital Limited, the NZX listed Financial Services Group, are pleased to present another record financial result for the year ended 31 March 2024. This year, we have achieved significant milestones and delivered a strong financial performance, with a 25% increase in revenue to $17.17 million and a 17% rise in Net Profit After Tax to $2.63 million. These results reflect our dedicated efforts and strategic initiatives in a challenging and dynamic market environment.

Our total assets have grown by 20%, reaching $163.33 million, underscoring our solid financial foundation. Despite the prevailing headwinds faced by the New Zealand economy, our commitment to prudent financial management has enabled us to maintain stability and foster growth. We recognise the vital role of our stakeholders, whose unwavering support and trust have been instrumental in achieving these results.

Key Financial Highlights

FY24 (31 Mar 2024) FY23 (31 Mar 2023) Change

Revenue $17,171,443 $13,709,253 +25%

Net Profit

After Tax $2,633,161 $2,258,243 +17%

Total Assets $163,330,631 $136,087,859 +20%

Total Equity $26,811,417 $24,252,770 +11%

Net Tangible

Assets

per Share 6.65 cps 5.94 cps +12%