Regal Partners Global Investments (RG!) H2 2025 earnings summary

Executive summary

• Reported a net loss after tax of $17.6 million for FY25, equating to -6.70 cents per share, compared to a profit of $64.1 million in FY24.

• Net portfolio return was -3.0% for FY25, down from +17.8% in FY24, with total shareholder return at -1.6% pre-franking.

• Maintained a strong profits reserve of $246.0 million, supporting a fully franked dividend of 12.0 cents per share for FY25.

• Increased gross exposure limit from 150% to 200% to enhance portfolio flexibility.

• Transitioned CIO oversight from Phil King to Paul Moore, aiming to leverage deep global equity experience.

Financial highlights

• Operating loss before tax was $28.3 million (FY24: profit of $88.4 million); after-tax loss was $17.6 million (FY24: profit of $64.1 million).

• Post-tax NTA per share was $2.061, a 7.6% decrease after fees and excluding dividends.

• Total dividends paid for FY25 were 12.0 cents per share, fully franked, representing a net yield of 6.7% and a grossed-up yield of 9.6%.

• Share buy-back of 39.4 million shares at a cost of $73.4 million during FY25.

Outlook and guidance

• No detailed forward guidance provided due to market volatility; ongoing monthly and annual updates will continue.

• Board intends to maintain at least 6.0 cents per share dividend every six months, fully franked where possible.