COG Financial Services, an ASX-listed asset finance service provider, has showcased strong growth in the first half of FY2025, with a revenue increase of 7% reaching $251 million.
This growth was significantly driven by effective contributions from the company’s broker network in asset finance and novated leasing sectors.
The firm’s positive trajectory is further bolstered by strategic acquisitions and a rise in assets under management, positioning COG for sustained expansion.
Mark Rayson (pictured), head of COG Aggregation, expressed satisfaction with the firm’s continuing strong performance, particularly highlighting the successes in novated leasing and salary packaging that have followed on from robust financial results in FY2024.
“Our asset finance aggregation also showed robust results, with net assets financed reaching $4.2 billion in the first half,” Rayson said.
The achievement comes despite various challenges such as the phasing out of the instant asset write-off tax incentive and a general downturn in the consumer lending sector.
COG has focused on empowering its extensive network of more than 8,500 accredited brokers, ensuring they have the necessary tools and support to succeed.
“Despite a decrease in average deal sizes, our brokers managed to increase the loan volume to the COG lender panel by 3%, resulting in a 6% increase in transaction numbers,” Rayson said.
Damian Mantini, head of strategic partnerships at Platform Finance, highlighted the processing of more than 6,900 deals in the first half, illustrating active broker engagement and the effectiveness of strategic partnerships.
COG’s recent acquisitions, including Community Salary Packaging and Cap Coast Home Loans, have been pivotal in broadening the company’s service offerings and enhancing market presence.
“These acquisitions are crucial to our strategy, bolstering our position and allowing us to deliver greater value to our clients and brokers,” Rayson said.
With a robust balance sheet and significant unrestricted cash reserves, COG is poised for further growth. The company continues to invest heavily in areas such as cybersecurity and the COG Connect broker platform, focusing on expanding its retail fixed income products and maintaining strong capital management to support its strategic goals.
