Australia · Delayed Price · Currency is AUD Perpetual Earnings Call Transcripts
Fiscal Year 2026
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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. The expanded simplification program targets AUD 70–80 million in annualized savings, with a focus on selling Wealth Management and reducing debt.
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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Announced KKR scheme to unlock shareholder value, with FY24 UPAT up 26% to AUD 206.1m and statutory loss of AUD 472.2m due to goodwill impairment. Asset Management saw stable AUM but net outflows, while Corporate Trust and Wealth Management delivered growth. Positive outlook with cost reduction and leadership transition.