The Perpetual Ltd (ASX: PPT) share price is in focus today after the company reported a 12% lift in underlying profit after tax (UPAT) to $112.7 million and a 2% rise in revenue for the half year ended 31 December 2025.
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What did Perpetual report?
- Operating revenue of $697.9 million, up 2% on 1H25
- Underlying profit after tax (UPAT) of $112.7 million, up 12%
- Net profit after tax (NPAT) of $53.9 million, up 349% year-on-year
- Interim dividend of $0.59 per share, unfranked
- Asset Management UPBT of $106.9 million (up 4%), Corporate Trust UPBT of $49.0 million (up 11%)
- Simplification Program delivered $60 million in annualised cost savings so far
What else do investors need to know?
Perpetual kept expense growth tightly controlled at 1%, and its Board reaffirmed full-year expense guidance at 1–2%. Cost savings from the company's Simplification Program are on track for $70-80 million annually by FY27, with $60 million already achieved.
Talks with Bain Capital Private Equity for the potential sale of the Wealth Management business are advancing, though there's no binding agreement yet. Meanwhile, Wealth Management's funds under advice grew 6% despite profit pressure.
What did Perpetual management say?
Perpetual CEO and Managing Director Bernard Reilly said:
Perpetual delivered a solid first half, with revenue and double-digit underlying profit growth driven by the strength of our diversified business model including Asset Management and Corporate Trust, while Wealth Management continued to show resilience as the sale process continued.
What's next for Perpetual?
Looking ahead, Perpetual plans to keep simplifying its operations to increase focus and reduce costs, supporting sustainable long-term growth. The company remains disciplined in expense management, while investing in new products and innovation within Asset Management.
Discussions with Bain Capital about selling the Wealth Management division are ongoing, with the company committed to keeping shareholders informed as things progress.
Perpetual share price snapshot
Over the past 12 months, Perpetual shares have declined 24%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 11% over the same period.
