AGP Boosts Revenue 14% as Net Loss Narrows to $171K in FY2025
Associate Global Partners Limited reported a 14% revenue increase to $7.085 million for FY2025, driven by strong fund growth and improved performance fees. The net loss after tax narrowed significantly to $171,000, reflecting operational progress despite no dividend declaration.
- Revenue up 14% to $7.085 million
- Funds under management grow to $1.397 billion
- Net loss after tax narrows 79% to $171,000
- No dividends declared for FY2025
- Strategic investments in manager partnerships and product development
Solid Revenue Growth Amid Market Recovery
Associate Global Partners Limited (AGP) has reported a 14% increase in revenue for the financial year ended 30 June 2025, reaching $7.085 million. This growth was primarily driven by an expansion in funds under management (FUM), which rose to $1.397 billion, supported by favourable market conditions and strong investment performance, particularly from its partnership with WCM Investment Management.
Significant Reduction in Net Loss
Despite continuing to report a net loss after tax of $171,000, AGP has narrowed its losses by 78.6% compared to the prior year’s $798,000 deficit. Excluding one-off costs related to a share placement, the company actually recorded a modest net profit of $59,000 for FY2025. The second half of the year was notably stronger, with a net profit of $242,000, reflecting improved operational efficiency and performance fees, including $148,000 from the WCM Quality Global Growth Fund - Active ETF.
No Dividend Declared as Growth Takes Priority
AGP did not declare or pay dividends during FY2025, continuing its focus on reinvesting in growth initiatives. The company emphasized its commitment to expanding its investor base and product offerings, while maintaining strict cost control. Cash reserves stood at a healthy $4.842 million, with manageable loan debt of $1.737 million, positioning AGP well for future growth.
Strategic Partnerships and Product Development
The company’s growth strategy centers on strengthening existing partnerships, notably with WCM, and selectively adding complementary investment managers. AGP’s distribution platform, including a strategic alliance with Switzer Financial Group, enables access to over 140,000 self-directed investors. New product launches and enhancements, such as changes to distribution policies and loyalty bonuses for the WCM Quality Global Growth Fund, aim to deepen investor engagement.
Governance and Leadership Updates
During the year, AGP appointed Brett Cairns as a non-executive director, bringing extensive financial services experience. The board continues to uphold strong corporate governance standards, with an unqualified audit report from SW Audit confirming the integrity of the financial statements. Performance rights were issued to key employees as retention incentives, aligning management interests with shareholder value creation.
Outlook and Market Position
Looking ahead, AGP aims to accelerate FUM growth and profitability by leveraging its diversified product suite and distribution channels. The company remains cautious about macroeconomic uncertainties but is optimistic about sustained investor appetite for quality global equity strategies. Maintaining disciplined cost management while investing in growth capabilities will be critical to delivering positive cash flows and shareholder returns.
Bottom Line?
AGP’s improved financial footing and strategic initiatives set the stage for potential profitability and growth acceleration in FY2026.
Questions in the middle?
- How will AGP’s FUM growth trajectory respond to ongoing global market volatility?
- What impact will the absence of dividends have on investor sentiment and share price performance?
- How effectively can AGP leverage its partnership with WCM to capture new retail and wholesale investors?
