Qualitas (ASX:QAL), an Australian alternative investment manager, has reported a robust financial performance for the half-year ended Dec. 31, 2025.
The company’s results showcase momentum, underpinned by record six-month deployment levels and strong growth in fee earning funds under management.
The financial highlights reveal a substantial 38% increase in funds management revenue, reaching $42.7 million compared to $30.8 million in the previous corresponding period.
The revenue surge translated into a powerful bottom-line performance, with normalised group NPAT rising 30% to $21.1 million.
The company declared a fully franked total dividend of 3.50 cents per share, representing a 40% jump from the 2.50 cents distributed in H1 FY25.
Operational efficiency remained a core strength for the firm. The normalised group EBITDA margin expanded to 51%, up from 49% last year.
Even when excluding performance fees, the underlying business remained resilient; Funds management EBITDA (excluding fees) grew by 38% to $29.2 million.
Despite a lower cash position of $33.2 million—compared to $105.1 million in H1 FY25—the company remains optimistic about the future.