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.