At the 1100 conference call, MD Robert Kelly participated.He...

At the 1100 conference call, MD Robert Kelly participated.

He said that he was restricted in what he could say on the capital raising as the presentation was going to USA investors.

Page 7 was 'good'. He said 'our job' was to give EPS and ROE accretion. Holders will agree.

it was overly conservative last year re projections. This was not needed!

SDF is not reliant on any one product.

Underwriting agencies' rise of 13pc was 'outstanding'. Most Aust/NZ brokers are using the client trading platform.

Coverforce is a good company aligned with SDF. One doesn't get this opportunity every year. Jim Angelis has built the business into a powerhouse as he's worked with SDF for two years. The vendor wants his 50 million shares in SDF!

Implementation of trapped capital project has gone well. There is some $800 million in 50 plus remaining brokers.

unisonSteadfast expansion internationally will occur although he implied it needs ability of management to move around the world, difficult during coronavirus.

SDF has considered Hayne Royal Commission carefully. Insurance brokers have done well through COVID-19.

In general insurance with companies such as IAG, salaries are 'going through the roof' and catastrophes are not predictable.

IQumulate arrears at a 12 year low, not what investors might have expected.

Gross written premiums are at $9.8 billion. SDF is continually merging with an active M & A team.

The client trading platform, a genuine contestable marketplace with a fixed fee, at a GWP of $793 million didn't quite meet the forecast of A$800m. However it was up 24 per cent on last year which was 'very exciting'.

Robotics being introduced for mundane tasks allow insurance brokers the ability to quote more business. Very important.

There has been an unspecified increase in SDF market share.

Final dividend is up 16.7 per cent. He said that's why holders invest.

The CFO Mr Stephen Humphrys said there';s been a combination of acquisition and organic growth.

There were double-digit increases on every metric.

Acquisitions were at an average multiple of nine times EBITA. (Sounds good). They contributed $!&m.

Organic growth had enhanced margins.

Equity brokers represented A$3.1 billion of the A$9.8 billion GWPs.

Competition for employees will see an uplift in FY 22 salary costs but he believes the revenue will also rise. (Hope so).

No negative trend arising at end of the government stimulus programs in March 2021. (but there is JobKeeper 2.2 if we can call it that). This comment is very good news.

Since FY14, consistent EPS growth. TSR since IPO 330 per cent.