Milton Corporation’s profit increases by 9% | Finance News Network

Milton Corporation’s profit increases by 9%

Company News

by Kathy Skantzos

Investment company Milton Corporation (ASX:MLT) has announced its profit has risen by 9 per cent to $66.6 million in the first half of 2018.

Revenue reached $69.3 million for the half year, which is 8.9 per cent more than the same time the previous year.

The investor expects to pay a fully franked interim dividend of 8.8 cents per share on 1 March 2018.

This result included $0.6 million in special dividends received from the Bank of Queensland and Sims Metal Management, which is more than received in the previous corresponding half year.

Milton’s Managing Director Frank Gooch said the portfolio performed soundly overall, with the majority of companies in the portfolio declaring increased dividends in the half year and said ordinary investment income increased by a net $4.8 million as a result of movements to dividend rates.

Shares in Milton Corporation (ASX:MLT) are trading flat at $4.73.

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.