Gryphon Capital Income Trust (GCI) H2 2024 earnings summary

Executive summary

• Revenue from ordinary activities rose 35.77% to $53.7 million for the year ended 30 June 2024 compared to the prior year.

• Operating profit increased 38.94% year-over-year to $48.9 million, with total comprehensive income matching this figure.

• Monthly distributions totaled 17.08 cents per unit, amounting to $46.6 million distributed during the year.

• The Trust raised $184.8 million in new capital through entitlement offers and placements, expanding its scale and investor base.

• Total assets grew to $679.1 million from $490.7 million, and units on issue increased to 335.6 million.

Financial highlights

• Net tangible assets attributable to unitholders rose to $673.9 million, up from $486.8 million a year earlier.

• Net tangible assets per unit remained stable at $2.01 (2023: $2.00).

• Earnings per unit increased to 18.36 cents from 14.47 cents year-over-year.

• Cash and cash equivalents at year-end were $72.0 million, up from $22.7 million.

• Financial assets at fair value through profit or loss reached $597.8 million, up from $457.9 million.

Outlook and guidance

• The Trust will continue to be managed in line with its investment objectives and guidelines.

• Future results will depend on investment market performance, with no guarantee that past returns will be indicative of future performance.