Argo Global Listed Infrastructure (ALI) H1 2025 earnings summary

Executive summary

• Recorded profit after tax of $49.5 million for the half-year ended 31 December 2024, reversing a $3.9 million loss in the prior corresponding period, driven by higher realised net gains and improved investment valuations.

• Net tangible asset (NTA) backing per share rose to $2.65 at 31 December 2024, up from $2.30 at 31 December 2023 and $2.37 at 30 June 2024.

• Fully franked interim dividend of 4.0 cents per share declared, payable 28 March 2025; final dividend of 5.0 cents per share paid in September 2024.

Financial highlights

• Investment income increased by 3,154% year-over-year, reaching $69.8 million compared to a $2.3 million loss in the prior period.

• Profit for the half-year surged 1,385% year-over-year to $49.5 million from a $3.9 million loss.

• Basic and diluted earnings per share were 27.9 cents, up from a loss of 2.2 cents per share in the prior period.

• Operating cash inflow was $4.6 million, down from $9.8 million in the prior period; cash and cash equivalents at period end were $1.2 million.

Outlook and guidance

• Directors are not aware of any matters since period end that may significantly affect future operations or results.