L1 Group posts $188.8M profit in FY26
- L1 Group reported an underlying net profit after tax of $188.8 million for the 2026 financial year.
- Total revenue reached $385.9 million alongside funds under management growing to $19.1 billion.
- The company achieved rapid cost synergies following its merger and expanded its target cost savings to $43 million.
L1 Group (ASX:L1G) posted an underlying net profit after tax of $188.8 million for the year ended June 30, marking a 97% increase on the prior corresponding period.
The financial period represents the first full year following the merger of Platinum Asset Management and L1 Capital that was completed on Oct 1, 2025.
Total revenue for the period rose 49% to $385.9 million while operating expenses fell approximately 15%. Underlying EBITDA rose 102% to $287.4 million.
"It was an exceptional nine months for the group, with the integration of Platinum progressing well ahead of schedule and our investment strategies delivering outstanding performance outcomes for our clients," said L1 Group CEO and Managing Director Julian Russell.
The business stated that integration efforts are nearing completion with $31.7 million in cost synergies realised to date.
Following the announcement, the L1 Group share price was up at $1.22.
Funds under management grew approximately 17% over the year to reach $19.1 billion.
The company declared a final fully franked dividend of 2 cents per share, bringing total dividends for the year to 3 cents per share.
