The L1 Group Ltd (ASX: L1G) share price is in focus after the group posted a 97% jump in underlying profit and a 49% rise in total revenue for FY26.
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What did L1 Group report?
- Underlying net profit after tax (UNPAT) of $188.8 million, up 97% on FY25
- Underlying EBITDA of $287.4 million, up 102% on FY25
- Total revenue of $385.9 million, up 49% on FY25
- Operating expenses fell 15% year on year
- Funds Under Management (FUM) rose 17% to $19.1 billion
- Final fully franked dividend of 2.0 cents per share, bringing FY26 total to 3.0 cents
What else do investors need to know?
The FY26 result marks L1 Group's first full year following its merger with Platinum Asset Management, which completed in October 2025. Integration of Platinum is nearly finished, and L1 Group has upped its target for merger cost synergies from $35 million to $43 million, with $31.7 million already realised.
The company's flagship strategies showed standout investment performance, and new initiatives since the merger include launching a North American and EMEA presence, establishing a new joint venture (PXC Advisors), and confirming an upcoming Australian small caps strategy. L1 Group reports a debt-free balance sheet with $635 million in cash and seed investments, providing a strong foundation for growth.
What did L1 Group management say?
Chief Executive Officer and Managing Director Julian Russell said:
We are extremely happy with this result, the execution progress on the Platinum integration, and the broader performance momentum across our Group. It was an exceptional nine months for the Group with the integration of Platinum progressing well ahead of schedule and our investment strategies delivering outstanding performance outcomes for our clients.
With the integration now largely complete, our attention now shifts to growth including new products and developing our pipeline of joint venture opportunities.
What's next for L1 Group?
Looking ahead, L1 Group will focus on launching further investment products and expanding through joint ventures, particularly in global markets. Additional merger synergies are set to flow through FY27, and the group is targeting selective acquisitions to drive long-term growth and value.
Management sees a pipeline of growth opportunities, thanks to a strengthened balance sheet and the integration benefits from the recent merger, with planned expansions including a new Australian small caps strategy and partnerships in North America.
L1 Group share price snapshot
Over the past 12 months, L1G Group shares have risen 54%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.
