Australia’s wealth management platform HUB24 reported a 51% surge in annual profit for the fiscal year ending June 2026, according to its FY 2026 presentation.
The company’s net profit after tax rose to A$152.3 million from A$100.8 million a year earlier, driven by higher revenue from platform fees and asset growth. HUB24 attributed the earnings increase to expanded client assets under administration, which now exceed A$160 billion, up 23% year-over-year.
Despite the strong financial results, HUB24’s shares fell 7.5% in early trading following the presentation. Market analysts cited concerns over rising operational costs and competitive pressures in Australia’s wealth management sector as factors weighing on investor sentiment. The decline extended losses from the prior session, where the stock had already dropped 3.2%.
HUB24’s Chief Executive Officer, Andrew Alcock, highlighted the company’s resilience amid market volatility, noting that client retention and new platform additions had supported revenue growth. The firm also reaffirmed its full-year guidance for FY 2027, targeting further asset growth and margin improvements.
The presentation underscored HUB24’s position as a key player in Australia’s financial advice and investment platform market, though the stock’s reaction reflected broader investor caution toward growth stocks in the sector.
