Dear Shareholders,
We present Propell’s Annual Report for the year ended 30 June 2025.
Performance
Revenue grew to $2.1 million, while expenses were steady at $2.0 million. The Company recorded a net loss of $4.4 million, reflecting higher loan impairment costs. Importantly, operating cash flow turned positive at $0.1 million, compared with an outflow in the prior year.
Team
During the year, Propell strengthened its leadership with key appointments across credit, operations, and commercial functions, alongside a transition in senior roles. These changes enhance the Company’s capability while maintaining a disciplined cost base.
Credit & Product
Loan impairment expenses increased following growth in the prior year’s loan book. Propell continued to refine its assessment model, introducing “Low Doc” credit assessment model, to improve risk management and lending quality. This positions the Company for stronger portfolio performance in FY26.
Outlook
Looking ahead, Propell will focus on embedding the new lending model, building broker relationships, and operating with greater efficiency as we continue to refine our platform for small business customers.
Thank you for your continued support.
On behalf of Propell Holdings Limited.
Regards,
Gary Hazelwood
CEO
Propell Holdings Ltd