WCM Global Growth (WQG) H2 2024 earnings summary

Executive summary

• Net operating profit after tax for FY2024 was $45.3 million, up from $37.2 million in FY2023, driven by portfolio value growth and strong investment performance.

• Portfolio return for FY2024 was 25.63%, outperforming the MSCI All-Country World Index (ex-Australia) by 5.69%.

• Since inception in June 2017, the portfolio has delivered 14.77% annualized returns after fees, compared to the benchmark's 12.53%.

Financial highlights

• Pre-tax NTA per share increased 19% year-over-year to $1.744 as of 30 June 2024.

• After-tax NTA per share rose 14% to $1.565, after paying four quarterly dividends totaling 6.8 cps.

• A $10,000 investment at IPO in June 2017 grew to $26,231 by 30 June 2024.

Outlook and guidance

• Board expresses confidence in continued long-term portfolio growth and maintains a positive investment outlook.

• Future quarterly dividends are expected to increase, with guidance for FY2025 dividends ranging from 1.83 cps to 1.91 cps per quarter, fully franked.