Hub24 has announced a strong first half, reporting underlying net profit after tax of $68.3 million, a 60 per cent increase. This surge in profitability was driven by record platform inflows, which also contributed to a 35 per cent rise in underlying EBITDA to $104.9 million. The company continues to benefit from increased adviser numbers and market share gains. Hub24 operates as a platform provider offering a comprehensive range of investment options and technology solutions for financial advisers and their clients. They facilitate portfolio management and investment strategies.
Total funds under administration (FUA) reached $152.3 billion, including platform FUA of $127.9 billion as of December 31. The company experienced net inflows of $10.7 billion during the half. This growth reflects Hub24’s ability to attract and retain clients, as well as the increasing demand for its platform solutions in the Australian market. The company’s focus on innovation and client service has positioned it as a leading player in the wealth management industry.
Revenue for the period climbed 26 per cent to $245.9 million. In light of the strong performance, the board has declared a fully franked interim dividend of 36 cents per share, representing a 50 per cent increase, payable on April 21. Hub24’s robust financial results and positive outlook have led the group to upgrade its FY27 platform FUA target to between $160 billion and $170 billion, revised upward from the previous range of $148 billion to $162 billion.
Hub24 reported that it ranked first for quarterly and annual net inflows for the eighth consecutive quarter. The company’s adviser numbers have increased to 5277, and its market share has grown to 9.3 per cent. These figures underscore Hub24’s growing influence and success in the competitive platform market, driven by its innovative technology and strong relationships with financial advisers.
