MA Financial Group today announced its financial result for 1H25. Driven by broad-based business growth the Group recorded record first half underlying revenue and EPS growth of 26% on 1H24. In 1H25, MA Financial experienced an increased proportion of its Underlying revenue that is recurring in nature, record Asset Management fund inflows, increased corporate advisory transaction activity, ongoing growth in Finsure and the accelerating growth of MA Money.
1H25 Underlying NPAT of $22.6 million and Underlying EPS of 14.0 cents were up 27% and 26% on 1H24 respectively. The Board has declared a fully franked interim dividend of 6 cents per share, in line with 1H24.
Since listing at $2.35 per share in 2017, MA Financial has delivered its shareholders a total return of 19% per annum.
MA Financial is performing strongly, delivering strong half on half earnings growth whilst still investing in the longer-term growth of the business. MA Financial is well positioned for an even stronger performance in the second half of 2025.
Joint CEOs Julian Biggins and Chris Wyke said: “We are very pleased with the strong momentum witnessed right across our business in the first half of 2025. Assets Under Management and Loan books continue to grow rapidly. Declining interest rates provide a strong tailwind for most areas of our business.
Underlying EPS in the second half of 2025 is expected to be materially higher than in the first half and we believe that the Group is in great shape to deliver strong earnings growth into the future.
Pleasingly our strategy of innovating new business lines, growing them cautiously until proven and then confidently scaling is seeing an increasing number of our operating businesses and strategies moving from the investment phase to one of operational scale and associated profitability.”
MA Financial operates in three core areas:
- Asset Management
- Lending & Technology
- Corporate Advisory & Equities
Asset Management
Underlying revenue was up 10%, supported by strong growth in recurring revenue from Private Credit funds.
Asset Under Management (AUM) were up 31%, or $3.0 billion, to $12.7 billion over the 12 months to 30 June 2025. This includes $1.9 billion of AUM from the acquisition of specialist real estate investment manager IP Generation during the half. Financial closing of this highly synergistic acquisition is expected to complete on 1st September 2025. Operational integration of IP Generation is well underway and there is significant opportunity to utilise the Group’s combined capabilities to materially scale MA Financial’s real estate offering. Currently, the Group is in exclusive due diligence on $1 billion of real estate assets.
Total gross fund inflows of $1.5 billion were up 36% on 1H24, highlighted by continued strong demand for MA Private Credit funds and the growing momentum of the Redcape Hotel Fund. Redcape’s portfolio of hotel venues has been performing strongly with like for like EBITDA growth of over 13% for the year to 30 June 2025 and total fund distributions were up 20% on the year prior.
Lending & Technology
Underlying revenue was up 63%, as the Group’s Residential Mortgage Marketplace accelerates its growth following a period of significant investment and is well placed to capitalise on macroeconomic tailwinds from declining interest rates and a strong housing market. The Marketplace is a highly scalable ecosystem that combines the Group’s lending business MA Money, mortgage aggregation platform Finsure and its proprietary technology interface for mortgage brokers, MiddleTM.
MA Money grew its loan book by 134% to $3.3 billion over the year to 30 June 2025. Growth has accelerated post balance date with the loan book now reaching $3.7 billion. Given its current growth trajectory, the Group is confident that MA Money will deliver its targeted net profit contribution of $15 million to $20 million in FY26.
Finsure grew the managed loans on its mortgage aggregation platform by 28% to $155 billion at 30 June and experienced record monthly loan applications of almost $10 billion in July. Through the Finsure platform, MA Financial now manages one in every nine new home loans in Australia.
MiddleTM technology also continues to be adopted by more mortgage brokers and has now assisted over 92,000 consumers on its platform and is processing approximately $140 million of loan applications per day.
Corporate Advisory & Equities
Underlying revenue was up 15%, as transaction activity levels improved in 1H25 with market conditions becoming more supportive of deal execution. The transaction pipeline is robust and the business has made a strong start to the second half of the year. The business expects to deliver revenue in FY25 within the Group’s targeted range of $1.1 million to $1.3 million per executive.
Visit the MAF Shareholder Centre to access all 1H25 result materials.
