Diversified investment company Washington H. Soul Pattinson and Company Ltd
(ASX:SOL) has reported full year profit of $1.1 billion today, more than 12 times its result the year before boosted by the sale of a coal project in Indonesia.
Net profit before non-regular items for the 12 months to July 31 nearly doubled to $224.7 million thanks to improved results from its investments in New Hope Corporation, Pitt Capital Partners and SP Telemedia.
Revenue rose 13.7 per cent to $775 million for the period.
The company declared a dividend of 19 cents a share, up 5.6 per cent, in addition to a special dividend of 25 cents a share.
Chairman Robert Milner says the company has never missed a dividend payment or requested additional capital from shareholders throughout the 107 years as a listed entity.
Mr Milner says this is a clear result of the company’s diversified investment methodology, focusing on basic commodities such as building products, coal, equities, telecommunications, financial services and pharmaceutical stocks.
Looking back over the past five years Washington H. Soul Pattinson and Company has posted inconsistent net profits.
