Perpetual’s first-half earnings have surpassed expectations, according to Citi analyst Nigel Pittaway, even with ongoing uncertainty surrounding the potential sale of its wealth management division. Perpetual is a financial services firm offering asset management, wealth management, and corporate trust services. The company aims to deliver sustainable investment solutions and services to clients globally.
Pittaway highlighted a 14 per cent upside compared to previous forecasts. This outperformance was attributed to higher-than-anticipated revenue, effective cost management, and a reduced tax burden. Furthermore, he noted that improved fiscal year 2026 cost guidance provides additional support for potential earnings upgrades in the future.
While the wealth management division continues to underperform, Citi analysts suggest that positive surprises in other areas of the business, specifically asset management and corporate trust, are likely to mitigate investor concerns regarding the delayed sale process. Pittaway stated, “This is a strong beat by Perpetual.”
He anticipates that the company’s stock is likely to trade flat to upward. Shares in Perpetual were up 7.8 per cent on Thursday, reflecting positive investor sentiment following the earnings announcement.
