Dear Shareholders,
We present Propell's Half-Year Report for the period ended 31 December 2025.
During the half-year, Propell's loan book grew to $11.1m, representing an increase of 64% from 30 June 2025. As a result, interest income increased by 39% to $1.8m.
Propell maintained its strong lending margins during the half-year and operating expenses were steady. Loan impairment costs increased due to providing against loans written prior to the implementation of Propell's enhanced credit assessment policy.
Propell's net loss for the half-year ended 31 December 2025 was $2.1m. Excluding loan impairment costs, Propell's half-year result was close to break-even.
Importantly, net cash flow from operating activities was $0.5m compared to a break-even result in the prior year.
Looking ahead, Propell will focus on automating its new credit assessment model while continuing to build broker relationships, grow its loan book and seek efficiency opportunities.
Thank you for your continued support.