• Record underlying net profit after tax (NPAT) for FY25, up 17.2% to $295.5 million
• Underlying earnings per share increased by 14.2% to 26.7 cents per share
• Steadfast delivered 25 consecutive increases in interim and year-end fully franked dividends since listing

Steadfast Group Ltd reported another record underlying net profit after tax (NPAT) for the year ended 30 June 2025, making it the 12th consecutive increase since listing in 2013. The Group delivered a 17.2% increase in underlying NPAT to $295.5 million and underlying earnings per share increased by 14.2% to 26.7 cents per share. Statutory NPAT, which includes non-trading gains and losses, increased from $228.0 million to $334.9 million. The company remains committed to strong and effective corporate governance and has announced that the Managing Director & CEO has chosen to step aside until an external investigation is completed into a complaint made by an employee. Tim Mathieson has been appointed as Acting CEO. Steadfast continued its disciplined approach to acquiring broker and agency businesses in FY25, including HWS Specialty, an independent insurance broker in London, and increasing its shareholding in Rothbury Group Limited in New Zealand. The company also completed the strategic acquisition of a majority stake in Novum Underwriting Partners LLC, a specialty underwriting agency and wholesale brokerage in the USA. The Board has announced that Vicki Allen will be appointed as the new Chair of Steadfast immediately after the AGM, succeeding Frank O'Halloran AM, who is retiring. Vicki has extensive Non-Executive Director and Chair experience. The outlook for FY26 is for further growth in profit and earnings per share, although the first three months have seen a lower increase in premium rates in Australia compared to expectations.

The Steadfast FY26 guidance range remains unchanged, despite a lower increase in premium rates in Australia in the first three months of FY26 compared to the original expectations of a 3-5% increase. Management is implementing a range of initiatives, including acquisition opportunities and expense management, in response to the changing market conditions.

The Group's outlook for FY26 is for further growth in profit and earnings per share, despite the lower increase in premium rates in Australia in the first three months of the year compared to expectations. Management is implementing initiatives to address the changing market conditions.