Argo Global Listed Infrastructure (ALI) H2 2025 earnings summary

Executive summary

• Achieved a full-year profit of $52.2 million, up from $12.8 million year-over-year.

• Declared a record high fully franked final dividend of 5.5 cents per share, totaling 9.5 cents for the year.

• Marked the 10th anniversary of listing, with a decade-long track record of outperformance and consistent dividends.

Financial highlights

• Net tangible assets per share increased to $2.61 from $2.37 year-over-year.

• Total assets rose to $476 million from $422 million year-over-year.

• Portfolio delivered a total return of +19.9% for the year, outperforming the domestic equity benchmark (+13.8%).

• Total shareholder return for the year was 17.3%.

Outlook and guidance

• Positive outlook for global listed infrastructure, supported by structural growth drivers like rising energy demand for data centers.

• Portfolio manager remains focused on high-quality businesses resilient in challenging environments.

• Ongoing macroeconomic and geopolitical uncertainty expected, but infrastructure seen as a defensive asset class.