FINWIRES · TerminalLIVE
FINWIRES

Pinnacle Investment Management Delivered 'Underwhelming' Fiscal Year 2026 Results But Top-Line Momentum Remains Robust, Jarden Says

By

Pinnacle Investment Management Group (ASX:PNI) delivered "underwhelming" fiscal year 2026 results as earnings per share missed consensus estimates by around 12%, Jarden said in a late Tuesday note.

However, the company's top-line momentum remains robust, with funds under management, flows, and performance fees coming in ahead of consensus forecasts, the investment firm added.

Pinnacle's share of affiliate net profit after tax (NPAT) missed Jarden's estimate by around 7%, driven mainly by higher-than-expected expenses.

The company's non-operating earnings, including interest, distribution income, and fair value losses, were a roughly AU$6 million NPAT drag on Jarden's estimate, and the equity research firm expects Pinnacle shares to trade soft on Wednesday.

Jarden maintained an overweight rating on Pinnacle Investment with a target price of AU$19.15.

The company's shares advanced 10% in recent Wednesday trade.

Related Articles

Asia

Hubei Dinglong to Allot 1 Billion Yuan for Wealth Management Products; Shares Jump 9%

Hubei Dinglong (SHE:300054) will allocate up to 1 billion yuan for the purchase of wealth management products using its idle funds, according to a Tuesday disclosure to the Shenzhen bourse.The wealth management products will help with the efficient use of capital, it said in the filing.Shares rose 9% during the midday break on Tuesday.

SHE:300054
Asia

Inspace Creation Bags Malaysia Distribution Rights to Novah Furniture Products

Inspace Creation (KLSE:INSPACE), through its subsidiary Image Articulation, has entered into a distribution agreement with office furniture company Novah, according to a Monday filing with Bursa Malaysia.Under the pact, Image Articulation will be the exclusive distributor of certain Novah-branded office furniture products within Malaysia.The agreement is initially for two years starting Aug. 1, and will be automatically renewed for an additional two years if Image Articulation achieves at least 80% of the applicable sales targets.

KLSE:INSPACE
Asia

Hanwha Aerospace Ends KRW455 Billion Supply Contract with UK's Vertical Aerospace

Hanwha Aerospace (KRX:012450) said it terminated a 454.8 billion won contract with U.K.-based Vertical Aerospace, according to a Tuesday filing with the Korea Exchange.The contract, signed in August 2022, involved the development and supply of electromechanical actuators, tilting systems and blade pitch systems for Vertical Aerospace's VX4 aircraft.The South Korean aerospace company said the decision was made by mutual agreement following changes in market conditions and business direction relative to the project's original objectives.Hanwha said the companies simultaneously signed a memorandum of understanding to maintain their cooperative relationship and lay the groundwork for future collaboration on similar projects.Shares of Hanwha Aerospace jumped over 10% in recent trade.

KRX:012450