Business

Alexforbes sitting on R733 billion

Luke Fraser

 ·11 Jun 2026

Alexforbes has seen its closing total assets reach R733 billion, but the group’s earnings in its results for the year ended 31 March 2026 remain muted.

“This has been another solid year of performance for Alexforbes, including being recognised as South Africa’s best asset manager,” said Chief Executive Officer, Dawie de Villiers.

“We delivered strong growth in operating income and a 22% increase in normalised profit, while maintaining a robust balance sheet and high levels of client retention.”

De Villiers added that the group has made progress in simplifying its business, strengthening accountability, and improving how it serves clients, thereby boosting client retention.

The group’s closing assets, which include assets under administration and assets under management, increased 22% year on year to R733 billion.

Its operating income increased 10% to R4.9 billion, supported by higher average assets, positive investment performance, inflationary increases in its retirement client base, and better retention.

Operating expenses of R3.9 billion increased 9% year-on-year, with 4% relating to the change in accounting for long-term incentive schemes and the prior year effect of the IFRS 16 lease adjustment

Normalised profit from operations, which excludes the IFRS 16 adjustment, rose 22% to R1,027 million.

When including the IFRS 16 adjustment, profit from operations, before non-trading and capital items, stood at R1,024 million, which is up 12% year on year.

Headline earnings per share from total operations decreased 5% to 67 cents per share. The group said movement reflects the base effect of discontinued operations in the prior year.

On a normalised basis, headline earnings per share of 69 cents were stable year-on-year.

The group thus declared a final cash dividend of 33 cents per share, which leads to a total dividend of 57 cents per share. The total annual dividend is up 4% year-on-year.

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