- Investment company WAM Leaders (WLE) has posted a 165.2 per cent increase in operating profit according to unaudited half-yearly figures
- Unaudited gross operating profit came in at $149.2 million, with after-tax operating profits clocking in at $107.1 million as the halfway point of FY21 approaches
- Investors are set to receive an interim full franked dividend of 3.5 cents per share, marking a 7.7 per cent increase on the previous financial year’s payment
- WLE’s audited half-year results are set to be announced to market later this month
- Investors appear to have responded favourably to the announcement, with WLE shares trading 3.23 per cent in the green at $1.44
Investment company WAM Leaders (WLE) has posted a 165.2 per cent increase in gross operating profit according to unaudited half-yearly results.
The boost takes its unaudited gross operating profit to $149.2 million approaching the halfway point of FY21 and marks a 147.2 per increase in operating profit after tax to $107.1 million.
In the same breath, the WAM Leaders board of directors declared a fully franked interim dividend of 3.5 cents per share, marking a 7.7 per cent increase on the previous financial year’s payment.
WLE’s investment portfolio increased 17.1 per cent during the half-year to December 31, with the investment manager declaring it outperformed the S&P/ASX 200 Accumulation Index by 3.9 per cent over the period.
WLE’s full audited half-year results are set to be announced to market later this month.
The company says strong investment portfolio performance drove significant asset growth, increasing the WAM Leaders’ share price relative to net tangible assets.
The WLE investment portfolio consists of predominantly large-cap ASX listers such as Australian and New Zealand Banking Group (ANZ), BHP (BHP) and Fortescue Metals (FMG).
WAM Leaders is managed by Wilson Asset Management (WAM).
Investors appear to have responded favourably to the announcement, with WLE shares trading 3.23 per cent in the green at $1.44 at 3:16 pm AEDT.