Argo Global Listed Infrastructure (ALI) H1 2026 earnings summary

Executive summary

• Recorded profit after tax of $13.9 million for the half-year ended 31 December 2025, down from $49.5 million in the prior corresponding period, mainly due to unrealised changes in fair value of investments.

• Achieved a record high fully franked interim dividend of 4.5 cents per share for the half-year ended 31 December 2025, with a half-year accounting profit of $13.9 million.

• Delivered a total portfolio return of +4.5% for the half-year, outperforming Australian equities amid global market turbulence.

• Share price returned +13.9% for the half-year, highlighting diversification benefits.

Financial highlights

• Investment income for the half-year was $23.4 million, down from $69.8 million year-over-year.

• Profit for the half-year was $13.9 million, a 72% decrease from $49.5 million in the previous year.

• Basic and diluted earnings per share were 7.8 cents, down from 27.9 cents year-over-year.

• Total assets stood at $474 million as of 31 December 2025.

• Since inception, total dividends paid reached 71.75 cents per share, with 16 consecutive fully franked dividends.

Outlook and guidance

• No significant matters or circumstances have arisen since period end that may affect future operations or results.

• Global market conditions remain highly uncertain, with expectations of weaker growth and persistent inflation.

• Investment environment likely to be influenced by geopolitical developments, including US policy actions.

• Infrastructure assets seen as attractive due to reliable income and inflation-linked pricing.

• Recent strength in the Australian dollar may restrict NTA growth in the short term, but long-term growth prospects remain strong.