Soul Patts records 'landmark' year after merger

Washington H. Soul Pattinson (Soul Patts) saw its profit climb over 500% in the 12 months to July 31, as the ASX-listed manager continues to anticipate strong performance in the current financial year.

Group statutory net profit after tax (NPAT) was $2.2 billion, up 501.9% from the prior year, driven by operating NPAT of $319 million, portfolio gains of $343 million, and non-recurring items of $1.5 billion.

Net asset value (NAV) after tax was $14.5 billion, a $3.5 billion surge from FY25, which reflects portfolio performance and the transformation of the company's tax position through the Brickworks merger in 2025.

Over the period, Soul Patts also participated in $12.7 billion in transaction activity across Australia and offshore, stating listed companies were the "largest" source of disposals, while the private sector saw capital being recycled within private markets.

Meanwhile, the company now has $3.8 billion in available liquidity, supplied by $2.7 billion in cash and liquid investments as well as undrawn debt facilities.

This was boosted by $1.9 billion net proceeds from the June divestment of the industrial property joint venture with Goodman Group, Soul Patts said.

Additionally, Soul Patts declared final dividend of 63 cents per share, fully franked, for the financial year, some 6.8% higher than the previous corresponding period.

Commenting, Soul Patts managing director and chief executive Todd Barlow said the company has undergone a significant transformation during the period and is gearing up for more opportunities.

"One year on from the Brickworks merger, we have a cleaner capital structure, stronger balance sheet and greater firepower to act on the right opportunities," he said.

Barlow anticipates a continued volatile period ahead but is adamant the company is well positioned for future growth.

"FY27 market conditions are expected to remain uncertain, particularly around interest rates and bond yields. Our balance sheet provides flexibility to act with conviction, including a further $662 million in offshore private markets commitments which have been approved since year end," he said.

"Soul Patts remains well positioned to navigate market volatility across its portfolio."