Argo Global Listed Infrastructure (ALI) H2 2024 earnings summary

Executive summary

• Investment income rose 10.6% to $22.6m for the year ended 30 June 2024, with profit after tax up 33.4% to $12.8m year-over-year.

• Basic and diluted EPS increased to 7.2 cents from 5.5 cents year-over-year.

• Fully franked dividends for the year totaled 9.0 cents per share, up from 8.5 cents in the prior year.

Financial highlights

• Net tangible asset (NTA) per share after unrealised tax was $2.37 at June 2024, slightly down from $2.39 a year earlier.

• Total assets at year-end were $422.5m, with net assets of $417.1m.

• Cash and cash equivalents stood at $5.5m, down from $5.8m at June 2023.

• Operating cash flow was $13.3m, reversing a $10.5m outflow in the prior year.

• Management fees paid totaled $4.8m, slightly lower than the previous year.

Outlook and guidance

• Final fully franked dividend of 5.0 cents per share declared, payable 27 September 2024.

• Dividend Reinvestment Plan and Dividend Substitution Share Plan will operate for the final dividend, with shares allotted at market price and no discount.