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Berkshire Hathaway(BRK.A) - 2025 H2 - Earnings Call Presentation
2025-09-04 08:00
Financial Performance & Growth - Funds Under Management and Advice (FUMA) reached £19.2 billion[11], driven by acquisitions and strong market/investment performance[10] - Revenue increased by 4.6% to £111.6 million[16], supported by acquired financial planning businesses[35] - Underlying profit before tax was £28.9 million[113] - Total FUM increased by 7% to £16.6 billion[11] from £15.5 billion[11] Strategic Initiatives & Cost Management - The company's strategy to 'Reignite Growth' is delivering results[5, 37, 72] - Underlying costs (pre-acquisitions) were £76.4 million[8], with reported costs at £76.5 million[24], indicating flat BAU costs[23] - A share buyback program of up to £10 million is in place, with £8.1 million already deployed[103] Segment Performance - Platform Managed Portfolio Service (MPS) FUM grew by 29%[20] - Advised assets increased 2.2x due to acquisitions, with AUA yield improving by 10.8bps[22] Future Outlook - Medium-term targets include annualised net inflows of 5% and BAU costs growth of less than 5%[106] - The company is confident in delivering medium-term targets[33]