MA Financial Group reported a 45% year-over-year increase in underlying earnings per share to 20.3 cents for the first half of 2026, driven by a 41% rise in underlying revenue to $230 million. Total earnings per share, including gains from strategic divestments, surged 96% to 27.5 cents, while the interim dividend was increased by 33% to 8.0 cents per share, fully franked.
Recurring revenue accounted for 72% of total revenue, up from prior periods, reflecting the group’s shift toward more predictable income streams. Underlying EBITDA excluding large notable items grew 43% to $68.2 million, with the EBITDA margin expanding to 31.8%, a 2.5 percentage point increase from the first half of 2025. Net profit after tax excluding large notable items rose 59% to $35.9 million.
The group’s asset management division contributed 59% of underlying EBITDA, with total assets under management increasing 44% to $15.5 billion despite the sale of retail shopping center assets totaling roughly $700 million. Recurring revenue in asset management climbed 15% to $96 million, while transaction-based revenue surged 220% to $22 million, with the margin expanding to 0.30% from 0.13% in the prior year period.
MA Financial’s lending operations, including Finsure and MA Money, also showed strong growth. Finsure’s managed loan book rose 25% to $193 billion, with settlements reaching $8 billion in July 2026. MA Money’s loan book expanded 127% to $7.5 billion, surpassing $8 billion in early 2026, and the group priced a $1 billion residential mortgage-backed securities issuance on July 31, 2026. The Middle™ digital platform now assists over 165,000 consumers and processes approximately $1 billion in loan applications weekly.
The group set ambitious long-term targets, including raising total assets under management to $24 billion by fiscal 2029, expanding the MA Money loan book to $15 billion, and targeting an EBITDA margin of 38–40% excluding strategic spend. Shares rose 17.47% to $7.06 following the announcement, with the stock trading at $7.15, an 18.97% gain from the prior close of $6.01.
