Plenti shares surge as FY26 profit doubles

Plenti Group (ASX:PLT) has delivered full-year financial performance for the period ended March 31, 2026, driven by strong originations and enhanced operational efficiency.

Plenti more than doubled its cash profit before tax to a record $30.8 million, representing a 117% surge compared to the previous financial year.

Cash net profit after tax reached $27.3 million, marking a 97% increase on the prior corresponding period.

Annual originations grew 32% on the PCP to reach $1.87 billion, which propelled Plenti’s total loan portfolio to $3.1 billion—a 22% year-on-year increase.

Plenti achieved its major "Horizon 1" strategic milestone of a $3 billion loan portfolio in January 2026, ahead of its initial March deadline.

The milestone has allowed the company to transition into "Horizon 2" of its corporate strategy, focusing on disciplined, profitable growth across its three core lending verticals, with an expanded focus on commercial automotive lending.

Plenti optimised its digital platform-led business model, leveraging advanced AI-driven enhancements to boost straight-through processing rates and reduce its operating cost-to-net margin to 56.7%.

Credit performance remained resilient with annualised net losses at 94 basis points.

Furthermore, strong performance generated $20.6 million in corporate cash, facilitating a $12.5 million corporate debt repayment.

CEO Adam Bennett praised the team's strong execution, celebrating a year of milestone achievements reached well ahead of schedule.

At the time of reporting, Plenti Group's share price was $0.82.