AUB Group lifts interim profit to $35.3m, flags weakness in NZ market
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The news: Insurance broker AUB Group reported interim net profit after tax of $35.3 million, up from $26.4 million a year ago, citing robust earnings growth across most divisions, excluding New Zealand.
The numbers: Underlying net profit after tax in the New Zealand broking division fell 12.8% to $10.6 million, driven by weakness in the corporate market and the impact of recent investments that have not delivered returns.
The company declared a fully franked interim dividend of 27 cents per share, up from 25 cents in the prior corresponding period.
The context: AUB Group CEO Michael Emmett said weakness in the New Zealand division and unfavourable currency headwinds from a weaker US dollar were offset by robust earnings growth across the group’s other divisions.
AUB upgraded its FY26 underlying net profit after tax guidance to be within the range of $220 million and $230 million.
The board also announced the appointment of Nick Dryden as chief financial officer, effective today.
The source: ASX
