Kelly Partners Group Holdings Limited
(ASX:KPG)
has announced its annual results for the fiscal year ended 30 June 2026, revealing a consolidated statutory net profit after income tax of $17,628,000. This marks a 7.3% rise compared to $16,436,000 reported in the previous corresponding period.
Key Highlights
- Consolidated statutory net profit after income tax reached $17,628,000 in FY26, up 7.3% from $16,436,000 in FY25
- Statutory net profit attributable to parent entity members rose 3.5% to $3,533,000 from $3,413,000 in FY25
- Owners’ earnings for the consolidated group, including non-controlling interests, increased 32.0% to $31,533,000 from $23,880,000 in FY25
- Amortisation expense on customer relationship intangible assets climbed to $9,431,000 in FY26 from $7,132,000 in FY25
FY26 Financial Performance and Owners’ Earnings Analysis
The company’s filing indicates that the statutory net profit attributable to members of the parent entity after income tax and non-controlling interests was $3,533,000 for FY26, up 3.5% from $3,413,000 in FY25. The report notes that this statutory net profit movement does not fully reflect the underlying business performance due to a notable increase in amortisation of customer relationship intangible assets and one-off acquisition-related expenses. Owners’ earnings for the parent entity rose 18.4% to $10,026,000 from $8,465,000 in FY25, while owners’ earnings for the consolidated group surged 32.0% to $31,533,000 from $23,880,000.
Non-IFRS Financial Metrics and Reconciliation Details
The directors regard Underlying Earnings Before Interest, Tax, Depreciation and Amortisation (Underlying EBITDA) and Underlying Net Profit After Tax Before Amortisation (Underlying NPATA) as key indicators of the Group’s core earnings. These are non-IFRS financial measures not defined by International Financial Reporting Standards or Australian Accounting Standards. For FY26, the consolidated statutory net profit after income tax was $17,628,000, with finance costs net of interest income amounting to $7,793,000, income tax expense at $2,338,000, and depreciation and amortisation expenses totaling $16,809,000. These compare to FY25 figures of $7,012,000 in finance costs, $1,343,000 in income tax expense, and $14,473,000 in depreciation and amortisation.
Group Structure, Business Strategy, and Core Operations
The filing details that during FY26, the Group’s main activities involved delivering chartered accounting and other professional services primarily to private businesses and high net worth individuals. The Group operates under the Partner-Owner-Driver model, where Kelly Partners and operating partners hold 51% and 49% interests respectively in each operating business. The company’s strategy focuses on achieving 35% EBITDA margins, expanding accounting and complementary services, executing programmatic acquisitions, pursuing selective larger acquisitions with revenues exceeding $5 million, and repurchasing shares when trading at a significant discount to intrinsic value.
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