Australia · Delayed Price · Currency is AUD Perpetual Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 saw stable revenue and 6% UPAT growth, with strong cost discipline and cash generation. The Wealth Management sale is on track, supporting deleveraging and a net cash position, while Corporate Trust and Asset Management delivered solid results despite net outflows and market volatility.
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First half 2026 saw 2% revenue and 12% underlying profit growth, with strong cost discipline and progress on simplification. Asset management faced net outflows but benefited from market gains, while Corporate Trust and Wealth Management remained resilient.
Fiscal Year 2025
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Operating revenue rose 3% to $1.373 billion, but underlying profit after tax dipped 1% and a $134.6 million impairment led to a statutory loss. Cost savings exceeded targets, and the group is focused on simplification, growth in alternatives, and a potential wealth management sale.
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First half 2025 saw 4% revenue growth and 2% higher UPAT, but statutory NPAT fell 65% due to one-offs. Expanded cost savings and a renewed focus on Asset Management and Corporate Trust follow the KKR scheme termination, with Wealth Management set for sale and strong buyer interest.
Fiscal Year 2024
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The AGM opened with a welcome and acknowledgment of Traditional Owners, followed by introductions of the board, executives, and auditor. Key agenda items included financial statements, director appointments, and a strategic review involving a proposed business separation. Voting and Q&A procedures were clearly outlined for all participants.
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A major restructuring will see shareholders receive AUD 8.38–9.82 per share in cash and retain exposure to a debt-free, standalone asset management business. FY 2024 saw a statutory loss due to a large impairment, but underlying profit and revenues rose, with positive momentum in Q1 FY 2025.