Pacific Current Group reported a 43% decline in underlying net profit after tax to AUD 14.8 million for the year ended June 30, 2026, as total underlying income fell 48% to AUD 25.1 million. The company also posted a statutory net loss of AUD 1.5 million, compared with a profit of AUD 58.2 million in the prior year.
Underlying earnings per share declined 10% to 50.2 cents, while total funds under management decreased to AUD 26.4 billion from AUD 30 billion. Corporate overheads fell 41% to AUD 9.4 million, and interest expense dropped 61% to AUD 2.6 million as the company eliminated all financial debt. Interest income rose to AUD 16.8 million, covering corporate overheads more than threefold.
The company’s share price rose 4.63% to AUD 11.98 following the results, extending its 52-week range of AUD 9.20 to AUD 12.45. Total shareholder return for FY 2026 reached 10.4%, compared with 6.1% for the S&P/ASX 200. The dividend for the year increased 12% to AUD 0.48 per share, comprising a fully franked interim dividend of 20 cents and a final dividend of 28 cents.
Michael Clarke, managing director, described FY 2026 as a year of successful transition, highlighting debt eradication, capital management initiatives, and further reductions in operating expenses. The company’s net asset value per share stood at AUD 13.96 at June 30, 2026, with a fair value estimate of AUD 16.18, up 4% from a year earlier.
Pacific Current Group completed several strategic transactions during the period, including the sale of a portion of its stake in Victory Park Capital for AUD 7.7 million in net proceeds, the repayment of a US$42.1 million debt facility, and the repurchase of over 2.2 million shares for AUD 22.9 million. The company also sold its holdings in Janus Henderson Group and Aether, generating combined proceeds of US$11.2 million.
A strategic review has been formally launched to explore options such as a potential sale, delisting, or gradual realization of holdings. Management expects to provide an update at or before the annual general meeting. The review follows the company’s elimination of financial debt and expansion of its share buyback program to over 2.6 million shares, representing 8.6% of capital.
