BKI Investment Company reports drop in profits | Finance News Network

BKI Investment Company reports drop in profits

Company News

by Kathy Skantzos

BKI Investment Company (ASX:BKI) has reported a 7.7 per cent drop in its net consolidated profit after tax for the half year, including special investment revenue, to $23.1 million compared to $25 million at the same time last year.

The investment company, however, saw a 7.3 per cent increase in half year operations, excluding special investment revenue, to $22.7 million to December 2017 compared to $21.2 million at the same time last year.

Earnings per share, excluding special dividends, increased 4 per cent on the back of an increased number of shares issued under the company’s share purchase plan in June 2017.

The company has undertaken a Dividend Reinvestment Plan giving shareholders the opportunity to receive additional shares in the company instead of receiving cash dividends.

The company expects to pay a 3.6 cent dividend on 28 February 2018.

Shares in BKI Investment Company (ASX:BKI) last traded at $1.76 yesterday.

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.