Business · Companies · 4 hrs ago
Magellan reports $778 million revenue after Barrenjoey merger
Magellan Financial Group reported $778 million in pro forma FY26 revenue after merging with Barrenjoey.
The merger was completed on 1 July 2026 and brings together businesses in financial markets, corporate finance and investment management.
The combined group has almost 600 staff and serves clients across several regions, including Australia, the UK and the US.
The company reported $215 million in pro forma operating profit after tax and $146 million in statutory net profit after tax.
It declared a fully franked second-half dividend of 25.5 cents per share, bringing the full-year dividend to 65 cents.
Expected annual merger synergies rose to $15 million, up from an earlier estimate of $6 million.
Shareholders are also voting on a proposal to rename the company Barrenjoey Group Limited.
Management says integration is progressing ahead of schedule, with core systems integration targeted for completion by June 2027.
Magellan Financial Group reported pro forma FY26 revenue of $778 million after completing its merger with Barrenjoey.
The company reported pro forma operating profit after tax of $215 million and statutory net profit after tax of $146 million.
Assets under management were $41 billion as at 30 June 2026.
The merger, completed on 1 July 2026, brought the group’s Financial Markets, Corporate Finance and Investment Management businesses to roughly equal contributions.
Magellan upgraded expected annual merger synergies to $15 million from $6 million.
Shareholders are voting on a proposal to rename the entity Barrenjoey Group Limited.
- Who
- Magellan Financial Group, which merged with Barrenjoey.
- What
- It reported pro forma FY26 revenue of $778 million.
- When
- The results were reported on 21 October 2026; the revenue figure is for FY26.
- Where
- Not stated.
- Why
- The results reflect the business following its merger with Barrenjoey.
This story does not have two clearly opposing sides.
Magellan reported assets under management of $41 billion as at this date.
Magellan completed its merger with Barrenjoey.
Magellan reported pro forma FY26 revenue of $778 million.
The company is targeting completion of core systems integration by this date.
Barrenjoey New Zealand is expected to commence operations.
- Pro forma FY26 revenue
- $778 million
- Pro forma operating profit after tax
- $215 million
- Statutory net profit after tax
- $146 million
- Assets under management
- $41 billion as at 30 June 2026
- Annual merger synergies
- $15 million, upgraded from $6 million
- 2H26 dividend
- 25.5 cents per share, fully franked
What people are saying
It's been a landmark year in which we completed a complex merger, repositioned our heritage Global Equity strategies, and materially reduced balance sheet risk.
Our group today is genuinely diversified, with solid foundations for the next phase of growth.