Steadfast Group reported an 8.2% rise in underlying net profit after tax to AUD 319.5 million for the fiscal year ended June 30, as revenue increased 15.3% to AUD 2.1 billion amid a soft insurance market.
Underlying earnings before interest, tax and amortisation climbed 13.8% to AUD 669.8 million, while underlying net profit after tax and amortisation rose 7.1% to AUD 366.3 million. Statutory net profit fell 19.6% to AUD 269.1 million due to the absence of a material accounting gain from the Rothbury step-up acquisition recorded in FY25.
The brokerage network’s gross written premium grew 6.2% to AUD 13.2 billion, while professional services fees increased 2.5% to AUD 7.5 billion. Post-tax operating cash flow rose 9.3% to AUD 408.6 million, and free cash flow increased 33.4% to AUD 166.6 million. The board declared a fully franked final dividend of AUD 12.75 per share, lifting the total payout for FY26 to AUD 20.95 per share, a 7.4% increase from FY25.
Steadfast completed 31 bolt-on acquisitions, 31 step-ups and 10 step-downs during the year, expanding its equity interests to 62 network businesses covering over 50% of network GWP. The Novum acquisition, completed in August 2025, delivered more than 60% organic growth in GWP and revenue over the subsequent 10 months, with an additional 4.25% stake acquired in May 2026. The ISU Steadfast network added 38 new members and reported a 15% increase in profit share.
Technology deployment progressed with 268 brokers live on the WinBeat platform, over 8,000 users on the Steadfast Client Trading Platform across Australia and New Zealand, and pilot releases of Steadfast Apps for seven brokerages ahead of a full launch scheduled for September 7.
For FY27, Steadfast guided underlying NPATA to AUD 382 million–AUD 392 million, underlying NPAT to AUD 333 million–AUD 343 million, and underlying EBITA to AUD 700 million–AUD 715 million. Diluted EPS growth is expected at 4%–8%, assuming a 2%–3% premium rate increase and approximately AUD 100 million in acquisition contributions.
The company also confirmed a cash-and-scrip takeover scheme with Amwins, Dragoneer and KKR valuing shares at AUD 6 each, a 51.9% premium to Steadfast’s undisturbed closing price of AUD 3.95 on June 9. The final dividend for FY26 and a pre-scheme special dividend total AUD 0.20 per share. Implementation is targeted for December 2026, subject to shareholder and regulatory approvals.
