Australian payments provider Cuscal reported a 20% increase in net operating income to A$347.7 million for the fiscal year ended June 30, 2026, up from A$290.4 million in FY25, as organic growth, acquisitions and transaction volume expansion drove results.
Underlying net profit after tax rose 20% to A$46.2 million, while earnings per share climbed 20% to 23.9 cents. Transaction volumes reached 4.798 billion for the year, an increase of 12% from 4.277 billion in FY25. The group’s stock rose 6.32% to A$5.55, nearing its 52-week high of A$5.79.
Net operating income was distributed across segments, with issuing revenue rising 22% to A$204.2 million, payments segment revenue up 15% to A$82.2 million and financial crimes services surging 42% to A$22.5 million. Acquiring revenue held steady at A$30.1 million, while Paymark contributed A$5.2 million following its June 2026 acquisition.
The group completed the acquisition of Indue in December 2025 and Paymark in June 2026, with management noting contributions from both transactions in FY26. Indue is expected to deliver A$15–20 million in annual post-tax cost synergies by FY29, with EPS accretion exceeding 25% and return on invested capital above 20%. Cuscal realized A$2.1 million in post-tax integration synergies in FY26 while incurring A$4 million in integration costs, with total integration expenses projected at A$25–30 million over three years.
Cuscal’s total assets grew to A$5.046 billion as of June 30, 2026, up from A$3.465 billion a year earlier, supported by client deposits of A$3.991 billion. Regulatory capital stood at A$259.2 million, maintaining a capital adequacy ratio of 19.1%, within the target range of 18–19%. Underlying return on equity improved to 11.7% from 10.5% in FY25.
Management declared a final dividend of 7.0 cents per share, bringing the full-year dividend to 11.5 cents, up from 10.0 cents in FY25. The group targets a dividend payout ratio of 40–60% of statutory NPAT.
For FY27, Cuscal expects mid-20s percentage growth in both transaction volumes and underlying net profit after tax, driven by organic expansion, Indue’s contribution and Paymark’s integration. Operational spending is projected at about A$30 million annually. Managing Director Craig Kennedy said FY26 marked a defining year, with execution against growth strategies strengthening the group’s position in Australia and New Zealand.
