Momentum hits R7bn earnings target a year early
Normalised headline earnings rose 13% to more than R7bn for the year to June, with five business units each contributing over R1bn.
Momentum Group Ltd. (JSE:MTM) announced its fiscal 2026 results on September 17, 2026, surpassing its R7 billion normalized headline earnings target a full year early. For the first time, every business unit delivered a profit, with five businesses each contributing over R1 billion to group earnings. The company's shares rose 2.9% to $0.355, though below the 52-week high of $1.485.
Momentum reported normalized headline earnings of R7.06 billion, a 13% increase from R6.26 billion in the prior year. Chief Executive Jeanette Marais highlighted improved earnings quality, stating that the company's strategic framework of purpose, people, and strategy—The ROI of doing human—enabled this success. Metropolitan Life's digital transformation contributed to an 85% increase in normalized headline earnings from R595 million in fiscal 2024 to R1.1 billion in fiscal 2026.
Momentum Investments achieved R1.2 billion in earnings, up from R533 million in fiscal 2024, driven by enhanced collaboration and vertical integration. The company's return on equity reached 21.7%, surpassing its 20% target for fiscal 2027. Total sales volumes increased 18% year-over-year to R93.8 billion, with particular strength in African markets and corporate segments.
Total assets under management and administration grew to R1.2 trillion, with net flows increasing from R6 billion to R16 billion.
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