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The asset finance group reported $4.5 billion in net asset finance in the first half of the year, up 7 per cent on the previous corresponding period (PCP).
COG Financial Services also reported earnings (before interest, taxes, depreciation, and amortisation) of $22.3 million for the half, up 14 per cent on PCP, while revenue lifted 8 per cent to $196.9 million.
COG said that the result was achieved primarily through organic growth, with the group also recording a 7 per cent increase in broker firms aggregating through its network.
Broker utilisation lifts volumes
Mark Rayson, head of COG Aggregation, said the performance reflected improving market conditions and growing broker engagement.
“This record performance underscores the resilience of brokers and the growing relevance of specialist asset finance support as market conditions stabilise,” Rayson said.
“It shows the market is beginning to pick up, even though conditions remain uneven. More brokers are writing more volume and using our services more frequently – and that’s been the real driver of this record half.”
Asset finance activity across infrastructure and construction remained particularly strong, supported by supply chain normalisation and pent-up equipment replacement demand.
“Assets still need replacing, and with supply conditions back to normal, businesses are moving ahead with purchases they deferred. We’re also seeing encouraging green shoots in markets that have been subdued for some time – particularly in Victoria, where demand has held up strongly, and we’re starting to see movement again,” Rayson said.
Vehicle finance activity also strengthened as supply constraints eased. Vehicle sales through COG CarSelect increased 13 per cent compared to PCP, reflecting growing demand for broker-assisted car buying solutions.
Rayson said the group’s specialist focus remained a key differentiator.
“We’re specialists in what we do,” he said.
“Brokers value that depth of expertise and the ability to access a wide range of solutions for their customers.”
Platform Finance reports consumer lending growth
COG’s wholly owned subsidiary, Platform Finance, reported consumer lending volumes up 15 per cent during the half, with personal loans rising 16 per cent. Commissions paid to brokers increased 5 per cent, broker accreditations surpassed 9,000, and lender accreditations rose 35 per cent year on year on a calendar basis.
Damian Mantini, head of strategic partnerships at Platform Finance (a subsidiary that offers specialist support and processing services for brokers), said brokers were supporting customers navigating cost-of-living pressures.
“We’re seeing strong demand from customers looking to consolidate debt and get their finances in order, with personal lending emerging as a key solution,” Mantini said.
He added that continued investment in technology and automation was improving broker capability.
“We’re investing heavily in AI and technology to make asset finance faster, smarter and easier for brokers and their customers,” he said.
“Automation and AI-driven workflows are reducing manual processes and improving turnaround times, so brokers can write more deals, settle faster and deliver a better experience for customers.”
Mantini also pointed to the breadth of the lender panel as a differentiator.
“We have the largest panel of asset finance lenders in the market, and our brokers actively use them. We’re selective about who we partner with; they need to offer something unique or deliver real value so we remain relevant to our brokers and their customers,” he said.
“More brokers are using us more often, and we’re becoming more relevant on a day-to-day basis. That deeper engagement is translating into stronger volumes and better outcomes for customers.”
Growth in the salary packaging segment also continued, supported by sustained demand for novated leasing and government incentives encouraging EV uptake. During the period, COG strengthened this segment through the acquisition of EasiFleet, enhancing its Paywise offering and expanding its capabilities in novated leasing as demand accelerates.
Outlook
Rayson said the group remains well-positioned for the second half.
“The utilisation we’re seeing across our broker network, combined with the investments we’ve made in technology and capability, gives us confidence in the outlook,” he said.
“This result shows the strength of staying focused on our core – supporting brokers to grow their businesses and deliver for their customers. The result reinforces the value of partnering with a specialist asset finance aggregator.”