WAM Capital sees record profit

Company News

by Jessica Amir

Listed investment company WAM Capital (ASX:WAM) reported a record half year report, with its net profit after tax (NPAT) rising 48 per cent to $87 million in the first half of the 2018 financial year.

It comes as the company’s assets grew by about 9 per cent over the period and it generated a higher return than the All Ordinaires index.

The company’s sales revenue strengthened over the first half 2018 financial year, lifting 47 per cent to about $132 million.

The company declared an interim dividend of 7.75 cents per share fully franked.

Shares in WAM Capital are trading about 1.3 per cent higher to $2.40.

 

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.