• Profit before tax increased 46% to $615,454 for the six months ended 31 December 2025
• Funds under management and administration grew over 50% to $3.6 billion
• Expanded the Equity Partnership Scheme portfolio with two new investments

The board of AWAG is pleased to announce a profit before tax of $615,454 for the six months ended 31 December 2025, a 46% increase on the prior corresponding period (December 2024 normalised NPBT $421,542). Revenue for the first half of FY2026 was $5.4 million. The December 2024 half-year result included a non-recurring acquisition adjustment of revenue and profit of $250,000. Cash on hand at 31 December 2025 was $3.1 million with no debt. AWAG has made significant progress across key areas of the business, growing Funds under Management and Advice, expanding the Equity Partnership Scheme (EPS) portfolio, and holding strategic positions for industry rationalisation. Group funds under management and administration were approximately $3.6 billion, a rise of over 50% in the six months despite market volatility. AWAG has completed two further EPS investments and increased its investment in Beattie Financial Services. The company has also expanded its relationships through joint ventures with One Ledger and CHN Chartered Accountants. On the funds management front, AWAG entered into a joint venture with Phillip Capital Australia, which was immediately earnings accretive.

AWAG's wholly-owned businesses, Armytage Funds Management and CHPW, are performing in line with expectations. The company now has ten income-earning investments, including the One Ledger and CHN joint ventures, which are expected to generate net profit within the next twelve months.

The outlook for AWAG is favourable. The company has strengthened its wholly-owned businesses and its Equity Partnership Scheme investments for future growth. The joint ventures with One Ledger and CHN Chartered Accountants are expected to be at least break-even within twelve months of establishment.