MA Financial, a listed alternative asset manager, has reported a 30 per cent increase in revenues to $558.5 million for the half-year. However, the company’s profit after tax decreased to $7.6 million. MA Financial manages $12.7 billion in assets across various sectors, including shopping centres, pubs, and marinas. The group anticipates improved earnings in the latter half of the year, driven by anticipated reductions in interest rates.
Joint chief executive officers Julian Biggins and Chris Wyke noted that decreasing interest rates should positively influence the business. They expect underlying earnings per share in the second half of the year to be materially higher than in the first half. Demand for the group’s private credit funds helped offset “softer transaction fees and timing of fund deployments” in asset management, the group’s largest segment which contributed $37.1 million to underlying earnings before interest, tax, depreciation and amortisation.
The company also expects a stronger performance from its corporate advisory division in the second half. MA Financial indicated a robust transaction pipeline, projecting annual revenues to align with the previously estimated range of $1.1 million to $1.3 million per executive.
Backed by US advisory firm Moelis & Co, MA Financial estimates its net tangible assets per share at $1.32, a slight decrease from the prior period.
