Aberdeen Leaders posts net profit
Listed investment company Aberdeen Leaders has posted a 3.8 per cent lift in annual net profit after tax to $11.7 million, up from $11.3 million last year.
The company, which delivered a net profit before tax for 2006-07 of $14.9 million, invests in companies within the S&P/ASX 200 index, which the company said delivered its best performance in 20 years during the year.
Gross return from its portfolio in the 12 months to June 30 was 29.6 per cent. Key contributors to this year’s profit were Leighton Holdings, QBE Insurance, Qantas, ASX and BHP Billiton, while pre-tax net tangible assets rose by 24 per cent to $2.06 per share.
Aberdeen Leaders director Charlie Macrae said the year “saw significant corporate activity allowing us to take profits from positions where we considered prices had run up, and topping up positions where we were comfortable with existing fundamentals”.
He said the company would “remain focused on our proprietary research to stand us in good stead for the period ahead when volatility and market weakness may well deliver attractive buying opportunities”.
“Markets globally are set for a period of volatility with risk and reward once again featuring in investors’ vocabulary.”
Aberdeen declared a fully franked, final dividend of 3.5 cents per share, bring the total dividend to 9 cents, up 12.5 per cent.
Recommended for you
The emergence of DeepSeek, a Chinese artificial intelligence (AI) start-up that claims to have built an advanced large language model in just two months for under US$6 million, sent shockwaves through the AI world and cratered US tech stocks.
Donald Trump’s presidency has already begun reshaping the corporate and political landscape in the US, with executive orders rolling back diversity, equity, and inclusion (DEI) initiatives and clean energy efforts.
In this episode of Relative Return Unplugged, hosts Maja Garaca Djurdjevic and Keith Ford are joined by AMP chief economist Shane Oliver to take a look at what can be learned from 2024 as attention turns to what markets will do in the new year.
Join us for a special episode of Relative Return Unplugged as hosts Maja Garaca Djurdjevic and Keith Ford are joined by shadow financial services minister Luke Howarth to discuss the Coalition’s goals for financial advice.
