Tower reports strong HY earnings
Key points
- Underlying NPAT: $36.8m (HY25: $61.7m)
- Reported profit: $22.9m (HY25: $49.7m)
- Customer numbers: 327,000, up 5% year-on-year
Full summary
Tower Ltd announced a solid underlying profit performance for the half year ended 31 March 2026, delivering underlying net profit after tax (NPAT) of $36.8 million and a reported profit of $22.9 million. The Tower Board has declared a fully imputed interim dividend of 5c per share. This positive HY26 result was delivered in a more challenging operating environment, marked by pricing pressure, elevated weather-related claims activity and global volatility. Tower does not expect these economic conditions to improve in the second half. Against this backdrop, Tower has continued to grow its customer base and advanced its strategic initiatives to drive future value.
Guidance
FY26 underlying NPAT expected to be $55m to $65m, GWP growth low-single digits
Outlook
Tower does not expect economic conditions to improve in the second half of FY26.
Summary generated by a large language model. Please interpret with care.