WAM Research Limited
(ASX:WAX) says portfolio growth of 25.5 per cent has resulted in a record profit of $35.9 million.
Operating profit before tax was up by 35.1 per cent for the 2016 financial year with the investment firm’s portfolio outperforming the market by close to 24 per cent.
WAM says best-performing stocks included Smartgroup, A2 Milk Company and Mayne Pharma.
The board announced a fully-franked dividend of 4.25 cents per share bringing the full year dividend to 8.5 cents.
