• Operating income up 23% to $64.3m
• Profit before tax up 29% to $16.2m
• Profit after tax attributable to members up 43% to $10.5m

In 2025, FSA Group Ltd's lending business generated a profit before tax of $17.0m, while the services business classified under 'Other' generated a loss of $0.8m. Profitability of the lending business was impacted by an increase in impairment expense due to origination growth across the loan pools and higher impairment for asset finance loans originated under difficult macro-economic conditions. The company's new origination increased to $396m, a 3% increase, and loan pools increased to $912m, a 14% increase compared to 2024. FSA Group generated operating income of $64.3m, a 23% increase, profit before tax of $16.2m, a 29% increase, and profit after tax attributable to members of $10.5m, a 43% increase. The company's strategy is to increase new origination to over $600m per annum primarily through broker channels, supported by automation, and grow loan pools to around $1.3b. The company plans to use the debt capital markets to diversify its funding and focus on containing employee benefit expense through automation and expanding its offshore office.

For the 2026 financial year, FSA Group expects profit growth of up to 30% on 2025, and the full year dividend to be 7 to 8 cents per share. Achieving this profit growth depends on loan pool growth and impairment, both of which are potential risks.

During 2026, FSA Group anticipates more favourable macro-economic conditions and continued growth in new origination and loan pools. The company's net margin is improving, and loan pools are now at a level where it is experiencing the benefit of operating leverage. A decrease in the cash rate will be a tailwind for the business and profitability.