HUB24 records 68% leap in full-year profit, hikes dividend
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The news: Wealth platform HUB24 has recorded a statutory net profit of $79.5 million for the full financial year, up 68.4% from $47.2 million in FY24.
The numbers: Total funds under administration (FUA) increased by 30% from $104.7 billion to $136.4 billion. This comprised platform FUA, which increased 34% to $112.7 billion, and portfolio, administration and reporting services FUA, which rose 17% to $23.7 billion.
The company delivered annual platform net inflows of $19.8 billion, up 25% year on year from $15.8 billion. Total revenue was up 24% year on year to $406.6 million.
The company declared a final dividend of 32 cents per share, bringing the full-year dividend to 56 cents per share. This compared to 38 cents per share in FY24. Analysts had expected a total dividend of 52 cents per share, according to Visible Alpha data.
The context: HUB24 said its platform had the largest quarterly and annual organic market share gains of all platform providers, increasing market share to 8.7% as at 31 March, up from 7.2% a year earlier, and ranked 7th overall. The company said it expects further growth in the 2026 financial year, targeting platform FUA between $147 billion and $162 billion for FY27.
The source: ASX
