CANBERA (dpa-AFX) - Magellan Financial Group Limited (NNA.F), an Australian investment management company, reported lower fiscal 2026 revenue, while its combined group with Barrenjoey Capital Partners generated A$777.90 million in pro forma revenue following completion of the merger.
Group net profit after tax was A$146.00 million.
Group operating profit after tax was A$215.00 million, reflecting strong earnings growth from Barrenjoey.
Barrenjoey's operating profit increased 68% to A$112.00 million, offsetting the decline in MFG's operating profit.
MFG's operating profit after tax declined 9% to $144.90 million, while operating profit after tax per share fell 8% to 82.8 cents.
MFG's net profit after tax fell 47% to A$87.90 million, primarily due to a A$38.00 million fair value loss on fund investments and A$11.00 million of merger and integration expenses.
MFG's revenue was $291 million, down 12% year-on-year, primarily driven by a 21% decline in Investment Management revenue.
Total assets under management (AUM) declined 7% to A$36.70 billion, largely due to net outflows from heritage Global Equities funds.
The MFG Board declared a final dividend of 25.5 cents per share, fully franked.
On the ASX, Magellan Financial shares closed down 14.03$ to A$9.50 on Thursday.
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