Steadfast Group’s underlying earnings before interest and tax rose 13.2 percent to 669.8 million dollars in the year ended 30 June 2026, signaling solid operational momentum in the core business despite headline profits declining due to year-on-year comparison effects. Total income net of brokerage commissions increased to 1,819.8 million dollars from 1,758.7 million dollars, a gain of 61.1 million dollars or 3.5 percent.
The statutory net profit after tax fell 19.6 percent to 269.1 million dollars, reflecting a much more complex picture than headline results suggest. The prior year benefited substantially from a one-time 157.4 million dollar gain from Steadfast gaining control of Rothbury Group. Excluding non-trading items, underlying net profit after tax rose 8.1 percent to 319.5 million dollars, demonstrating that core business performance advanced meaningfully through the period.
Total comprehensive income attributable to shareholders declined to 210.1 million dollars from 342.0 million dollars, a fall of 38.5 percent. This reflects mark to market losses on investments and write downs totalling 23.8 million dollars, alongside impairment expenses of 27.6 million dollars. The underlying NPAT reconciliation shows numerous adjustments including deferred contingent consideration expenses and portfolio movements explaining the substantial differences between statutory and operational results.
Steadfast maintained a solid dividend commitment despite the reporting complexity, declaring a final 2026 dividend of 12.75 cents per share fully franked at the 30 percent tax rate. Combined with the interim 2026 dividend of 8.20 cents per share also fully franked, total 2026 dividends reached 21 cents per share. The dividend reinvestment plan will not apply to the final dividend, with ex-dividend date set for 2 September 2026.
For investors assessing Steadfast Group, the result demonstrates a company managing substantial portfolio adjustments and investment volatility while its core insurance and broking operations expand earnings. The 13.2 percent lift in underlying EBITA represents the genuine metric to track, isolating growth in the core business from acquisition impacts and investment revaluations. Ongoing challenges with write downs and portfolio revaluations continue to pressure reported profitability, though underlying momentum suggests the business is building toward higher earning capacity. Key developments to monitor include sustainability of underlying earnings growth, adequacy of dividend coverage, and capital allocation decisions going forward. This announcement is price sensitive and has been classified as material by the Australian Securities Exchange.
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About Steadfast Group Limited (ASX: SDF)
Steadfast Group Limited is a general insurance brokerage services provider operating across Australasia, Asia, and Europe. The company offers a comprehensive range of business and personal insurance products, including professional indemnity, cyber, trade credit, workers compensation, home and contents, and motor insurance. It operates through a network of general insurance brokers and underwriting agencies that distribute these insurance products to corporate and individual customers.
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