Quilter plc (QLT) Q2 2026 Earnings Call

Investor webinar replay

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Replay transcript excerpt

WEBVTT 00:00:00.091 -- 00:00:04.872 Good morning everyone and welcome to our 2026 interim results. 00:00:04.872 -- 00:00:08.233 And if you haven't already seen it in the wild, I hope you enjoyed the intro with our 00:00:08.233 -- 00:00:13.274 new TV ad for Money Needs a Plan. Right, on to business. 00:00:13.274 -- 00:00:17.355 I'll start with a review of the first half highlights and our flow performance. 00:00:17.355 -- 00:00:19.835 Then Mark will take us through the financials. 00:00:19.835 -- 00:00:24.877 I'll conclude with a growth outlook for our business and why we are very well placed. 00:00:24.877 -- 00:00:27.537 Then I'll take questions. 00:00:27.968 -- 00:00:32.170 I'm very pleased with our performance in the first half of 2026. 00:00:32.170 -- 00:00:36.571 Core net flows were up to a record £6 billion. 00:00:36.571 -- 00:00:41.693 That's up over 30% on last year, and 2025 was a record too, 00:00:41.693 -- 00:00:45.335 so we've accelerated further from a strong base. 00:00:45.335 -- 00:00:50.617 Net flows were 9% of opening assets, up a percentage point on last year, 00:00:50.617 -- 00:00:55.538 despite the sharp increase in assets from market growth. 00:00:55.545 -- 00:01:01.407 Our operating margin was stable at 30% despite elevated business investment 00:01:01.407 -- 00:01:06.849 and lower interest rates reducing the income we generated on shareholder capital. 00:01:07.129 -- 00:01:09.250 Adjusted profit increased 12% to £112 million. 00:01:09.250 -- 00:01:11.911 Good momentum and a strong result. 00:01:15.238 -- 00:01:20.803 Earnings per share increased 13%. Board has declared an interim dividend of 2.1 pence, 00:01:20.803 -- 00:01:26.909 a third of last year's total dividend, in line with our revised distribution policy. 00:01:26.909 -- 00:01:29.952 An...