Stock Analysis

AUI’s FY2026 result reflected both underlying portfolio performance and the impact of the merger completed during the financial year. Profit after tax reached $220.4 million, while the company reported underlying profit after tax of $59.3 million after excluding special income and merger-related items.

The result reflected continued focus on growing lower-cost deposits, improving operational efficiency and expanding digital banking capabilities. During the year, Bendigo and Adelaide Bank progressed several strategic programs, including technology upgrades, productivity initiatives and preparations for the integration of RACQ Bank’sLoanand deposit books.

AMP’s first-half performance reflected its ongoing transition towardsWealth Managementand retirement-focused businesses, with improved customer flows, digital platform adoption and capital efficiency initiatives contributing to the overall result.

Argo Investments delivered a year of improved portfolio performance despite changing market conditions. The company reported a full-year NTA return after costs of 8.7%, with the second half contributing strongly through a 7.1% NTA gain compared with a 2.4% increase in the benchmark index.

The result reflected contributions from Australian Broking, International operations, BizCover and Agencies, supported by organic growth, acquisitions and continuedInvestmentacross the group’s operating platforms. AUB entered FY2027 with an expandedBusinessbase following recent strategic developments and a focus on improving performance across its insurance network.

The company maintained its underlying return on salesMarginat 3.1%, while strengthening itsBalance Sheetand expanding its operational platform across Australia and North America. Eagers also announced a record interim fullyFranked Dividendof 25.0 cents per share.

The FY2026 result reflected contributions from branded consumer products, dairy ingredients andManufacturinginitiatives. The company continued implementing its strategic priorities while investing in growth platforms, including product innovation, international expansion and operational improvements.