Humm Group Ltd reported an underlying net profit after tax of AUD 44.2 million for the fiscal year ended June 30, 2026, down 1% from AUD 44.6 million in the prior period. The statutory profit after tax stood at AUD 15.7 million, reflecting AUD 13.4 million in after-tax irregular items, including legal costs and regulatory settlements.
Net operating income declined 1% year-on-year to AUD 327.1 million, with net interest income falling 2.3% to AUD 258.3 million. Operating expenses excluding irregular items rose 2.9% to AUD 169.7 million, absorbing AUD 6.7 million in inflationary pressures. The underlying cost-to-income ratio improved to 51.9%, compared with a statutory ratio of 57.7%. The group’s net interest margin edged up 10 basis points to 5.5%.
Dividends remained a key focus, with a fully franked final dividend of AUD 0.02 per share declared, equating to a 4.5% yield. The board maintained its payout ratio target of 30% to 40% of underlying profit. Humm’s net tangible assets stood at AUD 412.9 million, or AUD 0.82 per share, while its price-to-book ratio was 2.42 and P/E ratio 36.44.
Segment performance showed divergence, with the consumer segment posting a 25.8% rise in adjusted net profit to AUD 31.2 million, supported by a 7.8% reduction in operating expenses. The commercial segment’s adjusted net profit fell to AUD 34 million, with volumes declining 7.9% to AUD 1.4 billion. International operations contributed AUD 8.1 million in adjusted profit, up from AUD 0.4 million a year earlier, driven by growth in Ireland and the UK.
Credit metrics remained stable, with group net credit losses at 2% of average receivables, up 20 basis points year-on-year. Commercial net losses were 1.46%, while consumer losses increased 10 basis points to 2.86%. Balance sheet provision coverage stood at 2.7%.
Humm’s shares rose 3.66% to AUD 0.425, narrowing the year-to-date decline to 12.8% below the 52-week high of AUD 0.775. CEO Angelo Demasi highlighted disciplined cost management and progress in the group’s platform transformation, while noting that the current share price did not reflect the company’s book value. Interim CFO Anthony Taylor described the funding platform as diversified and mature, supported by wholesale and institutional investors.
