Perpetual FY26 underlying profit rises to $217M on cost cuts

• Perpetual reported an underlying profit after tax of $217 million for FY26, up 6% from the prior year.
• Following the announcement, Perpetual's share price was up at $19.95.
• The profit growth was driven by cost reductions under the company's simplification strategy and corporate trust growth.

Perpetual (ASX:PPT) reported an underlying profit after tax of $217 million for the 2026 financial year.

The profit represents a 6% increase from the prior corresponding period, while statutory net profit after tax recovered to $88.9 million.

"We delivered strong earnings growth and improved profitability against a backdrop of geopolitical uncertainty and corporate change, highlighting the benefits of our diversified business model," said Perpetual CEO and Managing Director Bernard Reilly.

The company stated that its simplification programme delivered $72.6 million in annualised savings to date, exceeding its target of $60 million.

Following the announcement, the Perpetual share price was up at $19.95.

The board has determined to pay a final dividend of $0.63 per share, unfranked. Total dividends for FY26 were $1.22 per share.

Operating revenue remained stable year-on-year at $1.37 billion as corporate trust gains balanced lower asset management income.

In March, the business entered a binding agreement to sell its wealth management unit to Bain Capital.