Shine Justice FY26 slides: underlying earnings surge despite legacy charges

Shine Justice Ltd (ASX:SHJ) reported its FY26 full-year results on August 28, 2026, showcasing a mixed performance between statutory figures and adjusted results. While revenue grew modestly by 2.3% to $209.2 million, underlying adjusted revenue surged by 7.8% to $220.4 million, and adjusted EBITDA increased by 13.7% to $44.7 million.

This disparity was primarily due to a $13 million write-down on a legacy class action matter, which comprised an $11.2 million revenue constraint and $1.8 million in disbursement impairments. Despite these one-time charges, Shine Justice's underlying earnings showed strong momentum, particularly in its core personal injury segment, which experienced a 18.4% increase in EBITDA to $36.6 million.

The company's FY26 results demonstrated significant improvement in profitability metrics when adjusted for the legacy matter impact, with adjusted net profit after tax surging 62.9% to $15.8 million and adjusted basic earnings per share rising 87.8% to 11.19 cents.

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