IPH reported a 21% increase in revenue to $274.4m for HY24 compared to the previous year.
Underlying EBITDA rose by 13% to $90.4m, with acquisitions in Canada contributing positively, despite a currency impact.
Statutory NPAT decreased by 26% to $21.0m, while Underlying NPAT saw a modest increase of 5% to $50.8m.
The company experienced a decline in diluted EPS from 12.6 cents to 8.8 cents, but the underlying diluted EPS slightly decreased from 21.4 cents to 21.2 cents.
Operating cash flow increased by 51%, with a cash conversion rate of 128%.
An interim dividend of 16.0 cents per share was declared, up from 15.5 cents in the previous year.
The Australian/NZ segment returned to growth, contributing to the overall positive performance.
Acquisitions in Canada (Ridout & Maybee and ROBIC) are expected to fully benefit earnings in FY25 and beyond.
The Asian market showed a decline, impacting the group's performance in the region.
The company aims to return to its target gearing range during CY24, indicating a focus on financial stability and capital management.
IPH continues to lead in the Australian patent market with a 31.6% share.
The company is focusing on integrating its Canadian acquisitions and restoring growth in Asia as part of its FY24 priorities.
This announcement is a summary of the company approved ASX announcement on 22/2/2024.