General meeting of Peter Warren Automotive Holdings. Your attendance here today at our AGM in person in the spirit of reconciliation, Peter Warren would have made traditional custodians of this land and I pay my response Islanders people joining the meeting today. The nominated time of the meeting, I confirm there is a quorum present. Joining me today at the AGM are Catherine West and our Executive Director CEO Andrew Doyle and our Company Secretary. Auditor KPMG is also present and our ordinance and the conduct of that audit later in the prepared addresses to the meeting from myself, some brief comments about the company's performance beforehand. You know, fiscal 2025 year and the 2026 outlook in relation to the company's business and management at the appropriate fiscal year 2025 year. In the first half of the year, the industry sorted with some brands being more heavily affected than others.
Costs, portfolio management, and operational performance management initiatives led to an underlying plus half of the year to a $15.2 million in a second, a pursuit of inorganic growth by adding new brands to our strong property backed balance sheet. Acquisition opportunities that deliver long term value for the shareholders also reflected the Board's appointment of Andrew Doyle as Chief Executive. Andrew quickly immersed himself in our business and his in a few moments he will examine costs, headcount, and other customer centric cult analysis. His most impactful work has been driving our performance and will continue to do so. On behalf of the Board, I look forward to continuing our work together as we extend our refreshed strategy team of 2,100 people.
We continue to foster an alignment, aligned incentives, and strong leaders to provide a strong foundation and we remain committed to the safety of I extend my sincere thanks to my fellow directors for their oversight Ictukato for his financial leadership and industry June 2026, but we are delighted that he will be finally to our shareholders. Thank you. In fiscal 2025, we were pleased to declare a fully Fred in the continued commitment to deliver returns your intention continued involvement 2025 and the 2026 outlook.
Thank you, thank you, John. I would like to add my warm welcome to this year's Annual General Meeting. My priority was to meet the team within a short period, and those early conversations confirmed that we have exceptional professional people, and this has given me the common benchmarking and a culture built on integrity, our belief that our company will continue to grow and enjoy. Let me now recap the key financial highlights from financial year. Volumes declined, we delivered total revenue just shy of $4 million and an underlying profit before tax of $22 million. Importantly, our management initiatives drove a significant result together with the normal H2, or half two, seasonality. This performance was underpinned by three core drivers and focused growth on our controllable revenue streams.
Inventory by over 8%, equating to more than a fintech and mix, our cost million dollars in savings in half 2 compared to H2 than the prior year, and at the same time, for example, service, parts, finance, insurance, and used vehicles margins that had been declining, it down to $47 million, which is supported dollars, a strategic asset that I'll return to shortly, fostering positive accountability behaviors performance. In summary, the second half performance has just getting started, that's why we entered financial turning to our strategy and our vision to be our employees, our brand partners, and of course our investors.
Organic growth and acquisition focus and teamwork, firstly on innovators and sales operations, and early results are promising, and these enabling our people to focus on high value customer interactions has long been central to our success and ultimately drives personally champion a customer centric culture, and this same care extends to our people with clear metrics around organic growth challenges us. We've made progress in this area and have grown our revenue, and all of these departments are growing further this year, continuing our work into financial year 2026 with a particular focus. We reconfigured our dealership portfolio to reflect the market. The last 12 months alone, we added 11, and this has let us launch new brands including Geely and zero goodwill being paid. They're performing strongly at the same time, such as Toyota, Mazda, Ford, Kia, Hyundai, and Mercedes-Benz.
This reflects a strong balance sheet with reduced net debt, flexibility to pursue strategic M&A opportunities, and we are actively and selectively operationally. Our strategy is being executed in a way our teams are highly motivated and their work. Used vehicles, we are therefore confident earnings in growth I referred to. So before I close, outstanding customer service, and I also want to extend continued support. I'd also like to acknowledge thrilled that Victor will act as an advisor, maintaining his, and the recruitment process is already well underway over the coming months. In closing, and property assets and low net debt for our people, our customers, and our investors.
Thank you, Andrew. On behalf of the board, I'd like to thank you for your support. We will now move to the formal part of the meeting. The report for the year ending 30 June 2025 was circulated to members, and I will, before moving to the various resolutions to be considered today, remind you that when you registered your attendance this morning, only those with a yellow card can vote at the meeting. Marion Parry of MUFG Corporate is present. I will put each resolution and give the opportunity to ask questions or make comments in relation to the poll at the end of the resolutions. As Chair of the meeting, I wish to advise for all items of business. The first item of formal business is to receive and consider the report for the year ending 30 June 2025.
The report was released on the ASX platform and sent to those registered; however, we would be pleased to deal with any questions or comments you may have. Are there any questions in respect to the report? If there is no further, there's no questions. Resolution 1 is for the report, link on the screen. Are there any questions? Please now complete your voting card at the conclusion of all the resolutions. The report for the year ending 30 June 2025, as there's no questions, as that was the final resolution to be considered. MUFG representative is now available for collection. Shareholders have been given the opportunity to register questions. Any questions from the room? Questions from the room, no, there's no questions. I declare the meeting closed.
That will be announced on the ASX Company's announcement platform, and we have the room available, which is now available at the front of the room. Thank you for your continuing support in the coming year. Thank you.