Half Year 2020 OFX Group Ltd Earnings Call Transcript
Thank you, everyone, for joining the call. And as Edwin mentioned, I'm joined by Selena Verth, our CFO; and Matt Gregorowski, who leads our Investor Relations program with Citadel-MAGNUS. Selena and I will take you through the pages, then there will be time for Q&A. We will cover the first half result, what it is, what drove it and our outlook for FY '20.
So let's move to Slide 4 in the pack. We delivered a good operating result. Revenue up 0.5%, expenses down 1.6% and underlying EBITDA up 2.3% against the backdrop of difficult trading conditions.
Net operating income was slightly down at $59.5 million, driven by lower ATVs than we expected. The interim dividend will be $0.0235 per share. We continue to see good fundamentals. Transactions, up 5.2%; transactions per active client, up 9.3%; and stable net operating income margins, ex IPS, at 56 basis points. Our expense control is good, more on that later. And our execution, particularly in driving down our cost per registration and our cost per NDC has been
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