Equity Trustees reported a 32.7% year-over-year increase in net profit after tax from continuing operations to AUD 49.9 million for the fiscal year ended June 2026, despite a 20.5% decline in statutory group profit to AUD 26.4 million. Revenue from continuing operations rose 9.4% to AUD 167 million, while funds under management, administration and supervision grew 15.1% to AUD 191 billion.
The Melbourne-based trustee and wealth services provider cited double-digit revenue growth of 12% in its Trustee and Wealth Services division, driven by estate management and health-related services. Corporate Trustee Services onboarded 104 new schemes and custody appointments, including nine listed schemes, with total funds under custody increasing by AUD 26 billion. EBITA margin expanded to 33%, up from 30.6% a year earlier, though management noted the margin would have reached 36% excluding costs tied to discontinued superannuation operations.
Discontinued operations, including the Shield and First Guardian Master Funds, weighed on results. The group recorded a AUD 13.1 million non-cash impairment and AUD 12.7 million in pre-tax losses from its superannuation trustee services, impacted by AUD 6 million in advisory and legal costs. Estimated net investment losses to members in Shield and First Guardian totaled approximately AUD 144 million. Professional indemnity claims related to Shield have been accepted, while the First Guardian claim remains under insurer review.
Equity Trustees also announced plans to exit its superannuation trustee business by fiscal 2027, with corporate overhead costs expected to decline starting in fiscal 2028. The board is evaluating two non-binding takeover offers from TPG and BGH Capital, with an update anticipated within four weeks. The group’s shares slipped 0.89% to AUD 21.10, near the lower end of their 52-week range of AUD 14.70 to AUD 30.44.
Dividends for the year totaled AUD 0.76 per share, fully franked, with a payout ratio of 77%, within the board’s 70%-90% target range. The company also increased charitable giving by 23.6% to AUD 210 million, including AUD 140 million in philanthropic distributions.
