Carlton Investments (CIN) H1 2025 earnings summary

Executive summary

• Net profit for the half year ended 31 December 2024 was $20.3 million, up 3.2% year-over-year.

• Total comprehensive income for the half year was $37.0 million, down from $62.9 million in the prior year due to a lower increase in fair value of investments.

• Operating revenue rose to $21.9 million from $21.5 million compared to the same period last year.

• Interim fully franked dividend of 45.0 cents per ordinary share declared, payable 24 or 25 March 2025.

• Dividend income increased, with notable rises from AGL, Origin Energy, Santos, and Westpac, partially offset by declines from ANZ, Bendigo & Adelaide Bank, BHP, Fortescue, and Woodside.

Financial highlights

• Profit before income tax was $21.4 million, up from $21.0 million year-over-year.

• Dividends and distributions received totaled $21.2 million, with interest income of $0.7 million for the half year.

• Interest income rose to $669,000 from $568,000, driven by higher rates and increased term deposits.

• Basic and diluted EPS increased to $0.768 from $0.743 year-over-year.

• Administration and operating expenses remained stable at $0.5 million.

Outlook and guidance

• Directors declared a 2025 interim dividend of 45.0 cents per share, franked, payable 24 or 25 March 2025.

• Dividend Reinvestment and Bonus Share Plans remain suspended.

• Market volatility is expected to continue due to recent global events, making the ASX outlook uncertain.