Half Year 2026 Perpetual Ltd Earnings Call Transcript
Key Points
- Perpetual Ltd (PPTTF) achieved a 2% increase in total operating revenue, reaching $697.9 million for the first half of 2026.
- Underlying profit after tax rose by 12% to $112.7 million, demonstrating strong financial performance.
- The company has made significant progress on its simplification program, delivering $60 million in annualized savings and is on track to achieve $70 to $80 million by FY27.
- Corporate Trust continues to deliver strong growth across all three business segments, benefiting from robust securitization markets and client growth.
- The asset management division saw pockets of strong performance, with 54% of strategies delivering outperformance over a three-year timeframe.
- Perpetual Ltd (PPTTF) reported a statutory profit after tax of $53.9 million, which is lower than the underlying profit.
- The company experienced net outflows of $10 billion during the half, primarily in US, global, and international equity capabilities.
- The wealth management division's underlying profit before tax decreased due to expense growth, despite showing resilience.
- The sale process of the wealth management business is complex and has taken longer than expected, with no certainty of a binding agreement.
- JO Hambro's international global select strategy continues to face net outflows, impacting the overall performance of the asset management division.
Welcome to Perpetual's half year 2026 market briefing.
Following the formal presentation, there will be a Q&A session where participants can ask live audio questions. To ask a live audio question, press the request to speak button at the top of the broadcast window. The broadcast will be replaced by the audio question screen.
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The audio queue is now open.
I'll now hand over to Suzanne Evans, Chief Financial Officer.
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