Ninety One Group (N91) Q4 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:01.988 -- 00:00:07.177 Good morning, ladies and gentlemen. Welcome to the 91 interim results presentation 00:00:07.177 -- 00:00:12.306 for the half year to 30 September 2025. I will highlight the 00:00:12.306 -- 00:00:15.792 key numbers before moving to the business review. 00:00:15.792 -- 00:00:20.681 Kim McFarland, our finance director, will then present the financial review. 00:00:20.681 -- 00:00:26.997 I will then update you on recent developments and conclude before we take questions. 00:00:26.997 -- 00:00:33.428 Those of you participating through the webcast can submit questions during the presentations 00:00:33.428 -- 00:00:38.072 via the chat function at the bottom of your screen. 00:00:38.736 -- 00:00:42.603 Assets under management rose more than 19% 00:00:42.603 -- 00:00:44.887 over the past year. 00:00:44.887 -- 00:00:47.787 Flows turned around strongly. 00:00:47.787 -- 00:00:53.375 We recorded net inflows of 4.3 billion for this half year, 00:00:53.375 -- 00:00:58.141 resulting in adjusted earnings per share growing by 15%. 00:00:58.141 -- 00:01:00.141 This 00:01:00.385 -- 00:01:05.592 net inflow number consists of 2.4 billion of organic inflows 00:01:05.592 -- 00:01:11.918 and 1.9 billion that came from the Sunlum UK transaction. 00:01:12.141 -- 00:01:17.781 The dividend per share increased to 6p per share, and 00:01:17.781 -- 00:01:21.964 operating margins expanded to 32.1%. 00:01:22.988 -- 00:01:26.693 Staff shareholding grew to 32.7%. 00:01:26.693 -- 00:01:28.255 The 00:01:28.255 -- 00:01:32.261 people of 91 are fully aligned 00:01:32.261 -- 00:01:35.302 with all our other shareholders. 00:01:37.368 -- 00:01:42.855 I'm delighted to report that our business is growing again in terms of revenues, 00:01:42.855 -- 00:01:45.770 earnings, and a...