Daily Roundup

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Steadfast Group delivered record underlying profits while moving toward a takeover

Insurance broker Steadfast Group posted an 8% jump in underlying net profit after tax to $319.5 million for FY26, with total income climbing 3% to $1.82 billion. The company's underlying earnings per share grew 7.7% to 28.8 cents, and directors lifted the fully franked final dividend by 8.9% to 12.75 cents per share.

However, statutory profit fell 20% to $269.1 million due to non-trading items. Looking ahead, Steadfast guided for FY27 underlying NPAT between $333 million and $343 million, with underlying EBITA of $700 million to $715 million and earnings per share growth of 4% to 8%.

The big news was Steadfast's unanimous board recommendation to back a scheme implementation deed with Amwins Australasia Group, Starboard BidCo, and backing from Dragoneer and KKR. The takeover offer values the company at $6.00 per share, representing a 44.1% premium to the three-month volume weighted average price.

SiteMinder accelerating toward profitability with strong platform momentum

SiteMinder delivered impressive FY26 results, with annual recurring revenue jumping 24.1% to $313.7 million and revenue climbing 22% to $266.1 million on a constant-currency, organic basis. The real standout was adjusted EBITDA, which surged 96.5% to $28.1 million, expanding the margin to 10.6%.

The hospitality software company achieved this growth despite geopolitical headwinds and a strengthening Australian dollar. Adjusted free cash flow more than doubled to $10.5 million, while the customer lifetime value to acquisition cost ratio improved to 6.6x.

SiteMinder expects adjusted EBITDA margins to expand meaningfully in FY27, with ARR growth continuing in the 20s. The company is targeting mid-20s EBITDA margins by FY30, powered by its Smart Platform strategy and AI-enabled operational improvements.

AUB Group expanded internationally while lifting dividends

AUB Group reported a solid 12.2% increase in underlying NPAT to $224.6 million, with EBIT margin expanding 140 basis points to 36.1%. The international division led growth with underlying profit before tax climbing 19.6%, while the BizCover segment grew 19.9% and Australian Broking rose 10%.

The company declared a total FY26 dividend of 98 cents per share, up 7.7%, and acquired Prestige in the UK to strengthen its retail operations and broking capabilities. Net debt stood at $1.1 billion with a leverage ratio of 2.30x.

For FY27, AUB guided underlying NPAT in the $245 million to $265 million range, representing growth of 9.1% to 18% over FY26. CEO Michael Emmett highlighted the focus on integrating Prestige and leveraging the expanded platform to deliver stronger shareholder returns.

Acusensus ramping up international expansion with record growth

Road safety technology company Acusensus reported a remarkable 45% revenue surge to $86.2 million, with gross profit margin holding steady at 42%. The standout was an 8x increase in international gross profit, driven by successful mobilization of mobile speed camera programs in New Zealand and the United States.

Adjusted EBITDA climbed to $8.5 million, up 49%, while adjusted free cash flow remained positive. The company is well-funded with $26 million in cash and expects FY27 revenue to surpass $100 million. New contract wins across Australia and internationally brought the total contract value to $494 million, with a strong pipeline supporting continued growth.

Mader Group hit the billion-dollar milestone with steady expansion

Mader Group reached a record $1.001 billion in FY26 revenue, a 15% increase, with net profit after tax also climbing 15% to $65.4 million. The Australian segment grew 16%, while North America expanded 12%. Earnings per share rose 14% to 32.18 cents.

The company achieved its medium-term net cash target, closing with $35.7 million in net cash. The board decided to reinvest profits rather than pay a dividend, prioritizing long-term growth. For FY27, Mader expects revenue of at least $1.13 billion and NPAT of at least $72.5 million, supported by strong customer demand and an expanded service offering.