Financial services firm Centrepoint Alliance (ASX:CAF) was among the market leaders this morning following its half-year trading update.

The company flagged a turnaround story in H1, with preliminary unaudited revenues of $2.1m in the six months to December — up from a loss of $400,000 in the year prior.

CAF’s operating model is based around financial advice and compliance support services to business customers.

In its half-year results, the company highlighted “continued strength in adviser recruitment and fee revenue” as it looks to continue its “transition to a sustainable recurring fee model”.

CAF said core earnings were positive across all of its business segments, including the contribution from financial planning technology firm Enzumo, which it acquired in June last year.

The company said its latest result is a by-product of a two-year strategic turnaround program, after its stock fell from above 60c in 2017 to less than 10c through the end of 2019.

Following a ~25pc gain this morning, CAF shares climbed back to 28c — their highest level since July 2018.

Having cut costs and focused on organic growth, CAF said its now sees opportunities to “participate in industry consolidation and seek new strategic opportunities”.

“We are now actively pursuing opportunities to unlock the value of the business that can be achieved through scale,” CAF said.

The company also flagged its first dividend since the 2018 financial year, when it paid out excess cash to shareholders from the sale of its insurance funding business.

Having reestablished momentum with its business operations, CAF said it finished the December half-year with $14.7m cash in the bank — equivalent to around 10c per share.

It wants to return to its divided-paying ways, as well as maintain its tradition of returning excess money to shareholders if the conditions are conducive.

As a result, CAF announced an interim dividend of 4c per share, comprised of a 1c interim dividend and a 3c special dividend (return of excess cash).

The money will be payable to shareholders on February 26.