Freedom Insurance Group Ltd. reported consolidated earnings results for the first half year ended December 31, 2016. For the period, the company reported net revenue of AUD 25,715,000 compared to AUD 11,218,000 a year ago. Profit before income tax expense was AUD 8,982,000 compared to AUD 661,000 a year ago. Pro-forma EBITDA was AUD 11.1 million compared to AUD 1.7 million a year ago. Pro-forma cash EBITDA was AUD 6.8 million compared to loss of AUD 1.7 million a year ago. Pro-forma NPAT was AUD 7.1 million compared to AUD 1.1 million a year ago. Profit after income tax expense for the half-year attributable to the owners of company was AUD 6,170,000 compared to AUD 406,000 a year ago. Diluted earnings of 3.42 cents per share compared to 0.30 cents per share a year ago. Net cash from operating activities was AUD 5,791,000 compared to net cash used in operating activities of AUD 2,600,000 a year ago. Payments for property, plant and equipment was AUD 2,000.

For the year 2017, the company expects sales (new business premium) of AUD 59 million to AUD 64 million compared to AUD 55.1 million of previous guidance. The company expects pro-forma EBITDA of AUD 18 million to AUD 21 million compared to AUD 16.9 million of previous guidance.