Ariadne expects lower NPAT

Company News

by Kathy Skantzos

Investment company Ariadne (ASX:ARA) announced its net profit after tax for the half year to December 2017 is expected to be in the range of $2.6 million to $3.6 million.

This is down from $6.2 million reported in the first half of the financial year.

Half year market-to-market adjustments to the investment portfolio and foreign exchange movements is currently estimated to be in the range of a $1.6 million to $2.6 million net gain.

This is lower than the $11.9 million net gain reported in the first half of the previous financial year.

This forecast is subject to the operating performance of subsidiaries and associates during the final quarter and a routine audit review.

Shares in Ariadne (ASX:ARA) closed 1.28 per cent higher yesterday to $0.79.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.