Steadfast lifts half-year profit, reaffirms guidance
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The news: Insurance broker Steadfast reported a lift in revenue and underlying profits in the first half, reaffirming its guidance and increasing its interim dividend for shareholders.
The numbers: Underlying profit after tax for the first half was up 7.3% to $137.5 million, while underlying revenue lifted 14.6% to $1.01 billion from a year ago.
The company also reaffirmed FY26 guidance for underlying earnings in the $650 million to $665 million range, while underlying net profit is expected to be between $365 million and $375 million.
The context: The company declared a total dividend of 8.2 cents per share, up from 7.8 cents per share a year earlier.
The results come one day after the company announced managing director and CEO Robert Kelly’s intention to retire with a successor to be named by August this year. He will remain on the board and transition to a non-executive director role following his retirement.
What they said: In a statement on the results, Kelly said: “The 1H26 results continued out strong growth in revenue and profit and reflects a strong underlying business and the Group’s resilient and adaptable business model.
“The executive leadership team remains focused on delivering earnings growth and maintaining discipline in the execution of our business strategy to deliver sustainable and solid returns to our shareholders.”
