Hub24 Limited (ASX: HUB) has reported a robust first-half performance, with net profit soaring by 54% to $33.2 million. The strong result has prompted the company to increase its interim dividend by 30% to 24¢.
Total funds under administration (FUA) grew substantially to $120.9 billion as of December 31, driven by a record platform net inflow of $9.5 billion. Platform FUA alone climbed to $98.9 billion. By February 13, the total FUA had further climbed to $102.6 billion.
Hub24’s strong inflows, positive market conditions, and a pipeline of opportunities have led it to upgrade its platform FUA target for FY26 to a range of $123 billion to $135 billion. This target was previously $115 billion to $123 billion.
CEO Andrew Alcock expressed optimism for the future, stating, “With significant opportunities from existing and new customers across the group, we expect strong growth and increasing profitability.”
