Diversified investment company Washington H. Soul Pattinson (ASX:SOL) has released its 1H17 results.
Soul Patts reported its NPAT rose 56.1% to $149 million, and its revenue from operations surged 60.9% to $438.1 million.
The company says these results were driven by higher contributions from its strategic investments.For example, New Hope Corporation’s first half contribution to Soul Patts’ profit surged 264.4%. This was due to the coal miner benefiting from a recovery in coal prices.
Also, Soul Patts’ profit from its TPG investment increased 24.6% - with the telco’s iiNet division performing strongly. And its Brickworks investment advanced 31.1% due to record sales revenue from its building products business.
Soul Patts declared a fully franked interim dividend of 22 cps, which is 4.8% higher than last year.
This morning, Soul Patts’ shares are tracking 4.06% higher at $17.41.