The MA Financial Group Ltd (ASX: MAF) share price is in focus after the company reported record first half underlying revenue of $230.1 million, up 41% on 1H25, and a strong 45% lift in underlying earnings per share (EPS) excluding large notable items.
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What did MA Financial report?
- Underlying revenue rose 41% to $230.1 million (up 31% to $214.6 million excluding large notable items)
- Underlying NPAT (ex LNI) increased 59% to $35.9 million
- Underlying EBITDA (ex LNI) jumped 43% to $68.2 million
- Assets under management surged 44% to $15.5 billion
- Fully franked interim dividend lifted to 8 cents per share, up from 6 cents per share in 1H25
- Finsure managed loans climbed 25% to $193 billion and MA Money loan book soared 127% to $7.5 billion
What else do investors need to know?
MA Financial's results showcased strong momentum across all divisions, with particular strength in Asset Management and Lending & Technology. Recurring revenue reached a record 72% of underlying revenue (ex LNI), improving the quality and predictability of earnings.
The company has already made a strong start to the second half, with accelerating fund inflows, new real estate and hospitality transactions, and MA Money's loan book surpassing $8 billion post-balance date. Strategic investment in extending the platform into New Zealand has yielded early results, with New Zealand AUM crossing NZ$100 million.
What did MA Financial management say?
Joint CEOs Julian Biggins and Christopher Wyke said:
The Group's performance in 1H26 demonstrates the scalability of our diversified business model. Delivering 45% underlying earnings growth during a period of significant market volatility and macroeconomic headwinds is a strong result. Our Assets under Management and Loan books continue to demonstrate good growth and transactional activity is rebounding from cyclical lows to benefit the business. We've had a very strong start to 2H26 and believe that the Group is in great shape to deliver strong earnings growth into the future. This is demonstrated by the release today of our new three-year strategic targets which we believe are achievable given the scalable business platform we now have in place.
What's next for MA Financial?
Looking ahead, MA Financial is targeting further growth across all business segments, underpinned by its updated three-year strategic targets to December 2029. Management expects underlying EPS excluding notable items to be materially higher in FY26 compared to FY25, with earnings skewed to the second half.
The group is aiming for continued growth in funds under management, lending, and corporate advisory fees, with plans to expand distribution capabilities in the US and New Zealand and build further brand awareness. Management notes its EBITDA margin initiatives are on track, and the business is well positioned to create value for shareholders.
MA Financial share price snapshot
Over the past 12 months, MA Financial shares have declined 27%, trailing the All Ordinaries Index (ASX: XAO).
