Soul Patts rewards investors despite NPAT decline
Washington H. Soul Pattinson which helped put Perpetual into play earlier this year has nonetheless reported a decline in net profit after tax, down 27.8% to $498.8 million.
The company attributed the profit decline to lower contributions from Brickworks and New Hope within its strategic portfolio.
However, the company lifted its dividend by 9.2% to 95 cents per share.
Commenting on the result, Soul Patts managing director and chief executive, Todd Barlow said the company’s strategy of long-term commitment to building value, strength in conviction when making investment decisions, and unconstrained mandate to investment where it could extract the highest quality returns had continued to deliver.
He said the company had performed well against its three key objectives of increased cash generation, portfolio growth and investment risk.
The company said net cash flow from investments increased 10.3% to $468 million, driven by increased cash generation from its Private Equity, Emerging Companies and Credit Portfolios.
And yet Innocent Advisers will still be belted for the biggest CSLR Adviser Theft Levies to pay for every other…
I appreciate that we are stuck with the Government thievery that is the CSLR. The constant (and fair) argument from…
CLSR was meant to be the ‘last resort’, not the GoTo funding model that would unfairly burden honest business operators…
Unregulated MISs the base problem. Yet MIS remain out of CSLR ? And MIS remain largely Unregulated. WTF Corrupt Canberra
Exactly