Underlying NPAT and EPS Growth
Underlying NPAT up ~21% to $285 million for FY'25; EPS increased >25%, demonstrating strong earnings growth on a comparable basis.
AUM and Platform Cash Flow Momentum
Total AUM up ~9% to $161.7 billion. Platform net cash flow improved ~85% year-on-year to $5.1 billion, reflecting materially stronger client inflows and adviser traction.
Revenue and EBIT Improvement
Group revenue increased ~2.8% and EBIT rose >21% year-on-year, indicating operating leverage as volumes and efficiencies scale.
Cost Reduction and Efficiency Gains
Controllable costs fell almost 7% in FY'25; group cost-to-income declined >6%; Platforms cost-to-income fell >3% and S&I cost-to-income down ~5% — business simplification program delivering savings.
Partnerships and China Exposure Driving Earnings
Partnership income up >53% to $72 million, largely driven by China partnerships (CLPC); CLPC manages ~AUD 440 billion and increased dividend payout ratio to 35%, supporting group profit and dividends.
Dividend Resumption and Capital Position
Final dividend of $0.02 per share (20% franked), bringing FY'25 dividends to $0.04. CET1 surplus improved to $287 million (pro forma surplus $236 million after dividend), and group retired credit facilities — balance sheet and capital base strengthened.
Product and Distribution Progress
Launched AMP Bank GO (Feb '25) with $310 million deposits and earlier-than-expected customer uptake. Lifetime solutions, Boost, Rewards and digital adviser tools (MyNorth, AI filenote) gaining traction; managed Lifetime AUM up to ~$764 million at year-end.
New Zealand and Partnership Diversification
New Zealand Wealth NPAT up >5% to $39 million with improved net cash flows despite NZD weakness; other partnerships (e.g., CLAAM) delivered first dividends — revenue diversification providing resilience.