Foresight profit jumps as assets grow; dividend rises by double-digits
Foresight Group Holdings Ltd on Monday reported higher annual profit, revenue and assets under management, as record retail fundraising and strong performance fees from Australian asset exits supported earnings growth, prompting a 12% increase in its total dividend.
Foresight Group jumped 9.3% to 448.00 in early trading in London on Monday.
The London-based sustainability-focused infrastructure and private equity investment manager said pretax profit for the year ended March 31 rose 30% to £53.9 million from £41.4 million a year earlier.
Revenue increased 11% to £164.9 million from £148.6 million, while recurring revenue rose 5.6% to £135.3 million from £128.1 million. Recurring revenue accounted for 82.1% of total revenue, down from 86.1% a year ago, though the company said it continues to target a range of 85% to 90%.
Adjusted basic earnings per share climbed 13% to 46.4 pence from 40.9p.
Foresight recommended a final dividend of 19.0p per share, up 13% from 16.8p, taking the total dividend for the year to 27.1p, up 12% from 24.2p.
Assets under management at the end of March increased 7.9% to £13.02 billion from £12.07 billion, while funds under management rose 7.0% to £9.02 billion from £8.43 billion.
The company said assets under management have since increased to around £13.1 billion and funds under management to around £9.2 billion following further fundraising through its retail and institutional distribution channels.
Retail fundraising reached a record £630 million during the year, up 7.3% from £587 million and marking the fifth consecutive annual record. Institutional fundraising was supported by continued progress at Foresight Energy Infrastructure Partners II, which has secured EUR595 million of commitments towards its EUR1.25 billion target.
Core Ebitda before share-based payments increased 10% to £68.6 million from £62.2 million, driven by recurring revenue growth and higher performance fees following successful institutional fund exits in Australia, including investments in Zenith Energy Ltd and Kinetic Group Services Pty Ltd.
Looking ahead, Foresight said the agreed sale of its public markets division, announced earlier this month, is expected to complete in the third quarter of 2026, allowing the business to focus on its core real assets and private equity operations.
Executive Chair Bernard Fairman said: "Financial 2026 was another year of profitable growth, with double-digit percentage increases in core Ebitda pre-SBP, adjusted earnings per share and dividend per share.
"We enter the new financial year wholly focused on our core Real Assets and Private Equity divisions with a diversified fundraising pipeline across institutional and retail investment vehicles managing long duration capital, and remain committed to our medium-term growth guidance."
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