Af Legal Group Ltd
ASX:AFL

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Af Legal Group Ltd
ASX:AFL
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Price: 0.16 AUD -3.03% Market Closed
Market Cap: AU$14.8m

Af Legal Group Ltd
Investor Relations

AF Legal Group Ltd. engages in the business of family law firm. The company is headquartered in Sydney, New South Wales. The company went IPO on 2003-09-19. The firm provides advice to clients in respect of divorce, separation, property and children’s matters together with related and ancillary services, such as litigation. The firm helps customers by providing counsel and resolution on family matters. The Company’s services include separation, divorce, children, child support, spousal maintenance and property settlement. The firm operates in the Melbourne, Sydney, Brisbane, Adelaide, ACT, Perth, Mornington, Preston, Maroochydore, Caloundra and Gold Coast.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Mar 2, 2026
AI Summary
Q2 2026

Revenue: H1 revenue up 40% year‑on‑year; monthly/weekly seasonality saw Q1 at $692,000/week, Q2 at $680,000/week and November/December (and February) tracking around $747,000–$750,000/week.

Profit: Underlying normalized profit after normalizations up 125% for H1; reported normalized net profit before tax attributable was $1.26 million for the half.

Margin progress: Normalized net profit before tax margin 7.1% for the half (7.8% if adjusted for minority interest revenue), moving toward the company’s medium‑term 10% target.

Talent & quality: Lawyer headcount up 32% YoY; nine new lawyers in H1 (seven senior associates or above); five recently signed accredited specialists (4 family law, 1 criminal) and continued focus on retention (Great Place to Work score 85%).

Project Titan / tech spend: Project Titan expensed $750,000 to date ($270,000 in H2 FY'25 and $480,000 in H1 FY'26); management expects up to $750,000 more in H2 but is working to a lower number.

Cash & working capital: Net operating cash ~ $2.4 million for H1; trade receivables ~ $4.55 million (up ~2%) and provision for doubtful debts $405,000; management emphasizes cash conversion and that many long‑tail receivables are asset‑backed.

Consultant model / M&A: Trialing a hybrid consulting/profit‑share model (example: high‑profile criminal lawyer Andrew Tiedt) to attract senior rainmakers without them running a small business; geographic expansion in several markets continues.

Key Financials
Revenue (H1 FY '26)
up 40% YoY
Underlying normalized net profit before tax attributable
$1.26 million
Normalized net profit before tax margin
7.1% (7.8% adjusted for minority interest revenue)
Average weekly revenue (Q1)
$692,000/week
Average weekly revenue (Q2)
$680,000/week
November/December weekly revenue level
~$747,000 to $750,000/week
Project Titan spend to date
$750,000 expensed to date
Legal defense fees (major costs)
~$370,000 incurred in FY '25
Net operating cash (H1 FY '26)
~$2.4 million
Net profit before tax (reported reference)
$1.465 million (referenced)
Trade receivables
$4.55 million (accounts >30 days up ~2%)
Provision for doubtful debts
$405,000
Lawyer & legal support headcount growth
up 32% YoY
New lawyer hires in H1
9 new lawyers (7 senior associate or above)
Great Place to Work score
85%
Notable contingent/lumpy receivables
~$800,000 across 4 Contested Wills & Estates matters potentially collectible by year‑end
Borrowings presentation note
$900 million shown as noncurrent but management said it should be in current (presentation correction)
Other Earnings Calls
2026

Management

Mr. Christopher John McFadden FCPA
Group Chief Executive Officer
No Bio Available
Ms. Stace Boardman
Group CFO & COO
No Bio Available
Ms. Stephanie So
Company Secretary
No Bio Available

Contacts

Address
NEW SOUTH WALES
Sydney
C/O Whittens & McKeough, L 29 201 Elizabeth Street
Contacts
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