MA Financial Group has posted record first-half results, underpinned by broad-based growth across its three business divisions.
The result comes as non-bank lenders and diversified financial services groups continue to benefit from falling interest rates, strong broker demand, and investor appetite for alternative assets.
The group reported Underlying NPAT of $22.6 million, up 27% on 1H24, with Underlying EPS up 26% to 14 cents.
A fully franked interim dividend of 6 cents per share was declared, in line with the prior period. Since listing in 2017, MA Financial has delivered a total shareholder return of 19% per annum.
“We are very pleased with the strong momentum witnessed right across our business in the first half of 2025,” joint CEOs Julian Biggins and Chris Wyke (pictured left to right) said. “Assets Under Management and Loan books continue to grow rapidly. Declining interest rates provide a strong tailwind for most areas of our business.
“Underlying EPS in the second half of 2025 is expected to be materially higher than in the first half and we believe that the group is in great shape to deliver strong earnings growth into the future.
“Pleasingly our strategy of innovating new business lines, growing them cautiously until proven and then confidently scaling is seeing an increasing number of our operating businesses and strategies moving from the investment phase to one of operational scale and associated profitability.”
Asset management underlying revenue was up 10%, supported by recurring revenue growth from Private Credit funds. Assets under management (AUM) rose 31% to $12.7 billion, boosted by the acquisition of Melbourne-based real estate investment manager IP Generation for $90.4 million.
The deal adds $2 billion in retail assets and 29 investment professionals, strengthening MA Financial’s Melbourne presence and lifting real estate AUM to around $8 billion.
Gross fund inflows of $1.5 billion were up 36% year-on-year, driven by demand for MA Private Credit funds and momentum in the Redcape Hotel Fund. Redcape’s portfolio delivered 13% EBITDA growth and 20% higher fund distributions for the year to June 30.
Lending and technology delivered standout growth, with underlying revenue up 63%. The Residential Mortgage Marketplace continues to scale, combining lending arm MA Money, aggregator Finsure, and broker technology Middle.
Corporate advisory and equities revenue rose 15% as transaction activity improved with more supportive market conditions. The firm reported a robust transaction pipeline heading into the second half of the year, expecting FY25 revenue per executive to remain within the $1.1m-$1.3m target range.
Management noted that MA Financial is performing strongly with record inflows, rising recurring revenues, and accelerating loan growth across its lending platforms. With declining interest rates providing a favourable environment, the group is well positioned for an even stronger 2H25.
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