• Underlying NPAT up 63% to $20.1m
• Revenue up 35% to $88.4m
• Investment Bonds FUM up 34% to $5.2bn
• Managed Accounts FUM up 36% to $34.5bn

Generation Development Group Limited (ASX: GDG) has announced its financial results for the first half of FY26 (HY26), delivering strong underlying earnings growth driven by funds under management (FUM) expansion and a growing, diversified recurring revenue base. The Group reported Underlying NPAT of $20.1m (up 63% pcp) and revenue of $88.4m (up 35% pcp). Investment Bonds FUM increased 34% to $5.2bn, while Managed Accounts FUM grew 36% to $34.5bn on a like-for-like basis. The results reflect sustained momentum across all business lines, with revenue and earnings growth driven by strong FUM growth, contributions from recurring revenue streams, and operating leverage. The Group has embedded a new operating structure, combining Lonsec Investment Solutions and Evidentia Group, enhancing alignment and accountability. Generation Life delivered a strong first half, maintaining its leading 60% market share of inflows. Evidentia Group successfully executed the integration of Lonsec Investment Solutions and Implemented Portfolios, growing its TMA client base by 42%. Lonsec delivered a strong first half, with underlying EBIT up 29% to $10m, driven by improving operating leverage and a highly recurring revenue base.

The Group expects second half earnings to exceed HY26, with Generation Life on track to achieve a record increase in annual sales, Evidentia expecting stronger second half FUM growth supported by over $2.0bn in mandate transitions, and Lonsec anticipating strong growth in its research business.

The Group is well-positioned to capitalize on structural and legislative tailwinds, with transformational initiatives and significant investments in products and services across its subsidiaries. The diversified business model, scalable platforms, and dedicated teams give the Group confidence in continued momentum and earnings growth.