Link Administration Holdings signaled the development when it published its results for the first half of the 2021 financial year on Thursday.
The company, which owns a 44.18 percent stake in PEXA holding company Torrens Group Holdings, decided to consider listing the real estate platform after achieving good results during the half-year.
PEXA recorded revenue of $99.3 million during the half-year, an increase of 28 percent compared to the previous corresponding period (pcp). Operating profit before interest, taxes, depreciation and amortization (EBITDA) was $51.5 million, almost double from $27.1 million in 1H20.
Trading volumes increased 28 percent to $1.5 million.
In light of PEXA’s expected continued growth, all of its shareholders (Link, Morgan Stanley Infrastructure Partners and CBA) have agreed to explore the IPO.
Meanwhile, Link revealed that it generated revenue of $597 million for the half-year, down 5 percent from the previous corresponding period (pcp).
The group’s net operating profit after tax (NPAT) was $65 million, down a fifth. But the statutory NPAT increased by 6 per cent to $29 million.
Operating EBITDA was $137 million, compared to PCP’s $163 million.
The board declared a dividend of 4.5 cents, which was lower than its 6.5 cent payout in 1H20.
The company presented an optimistic outlook, saying it is “well placed” to support its customers and continue industry consolidation in an evolving pensions market.
“Our core businesses have strong market positions and clear strategic ambitions,” commented Vivek Bhatia, CEO and Managing Director of Link Group.
Link also completed the sale of its South African market services business during the half.
