Ninety One Group (N91) Q2 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.400 Good morning, ladies and gentlemen. Welcome to the 91 interim results presentation 00:00:05.400 -- 00:00:09.967 for the half year to 30 September 2025. I will 00:00:09.967 -- 00:00:14.034 highlight the key numbers before moving to the business review. 00:00:14.034 -- 00:00:18.901 Kim McFarland, our finance director, will then present the financial review. 00:00:18.901 -- 00:00:25.225 I will then update you on recent developments and conclude before we take questions. 00:00:25.225 -- 00:00:31.658 Those of you participating through the webcast can submit questions during the presentations 00:00:31.658 -- 00:00:36.303 via the chat function at the bottom of your screen. 00:00:36.948 -- 00:00:40.836 Assets under management rose more than 19% 00:00:40.836 -- 00:00:43.120 over the past year. 00:00:43.120 -- 00:00:45.998 Flows turned around strongly. 00:00:45.998 -- 00:00:51.583 We recorded net inflows of 4.3 billion for this half year, 00:00:51.583 -- 00:00:56.368 resulting in adjusted earnings per share growing by 15%. 00:00:56.368 -- 00:00:58.368 This 00:00:58.610 -- 00:01:03.815 net inflow number consists of 2.4 billion of organic inflows 00:01:03.815 -- 00:01:10.140 and 1.9 billion that came from the Sunlum UK transaction. 00:01:10.362 -- 00:01:16.009 The dividend per share increased to 6p per share, and 00:01:16.009 -- 00:01:20.192 operating margins expanded to 32.1%. 00:01:21.216 -- 00:01:24.920 Staff shareholding grew to 32.7%. 00:01:24.920 -- 00:01:26.482 The 00:01:26.482 -- 00:01:30.407 people of 91 are fully aligned 00:01:30.407 -- 00:01:33.509 with all our other shareholders. 00:01:35.594 -- 00:01:41.080 I'm delighted to report that our business is growing again in terms of revenues, 00:01:41.080 -- 00:01:43.998 earnings and as...