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 the head of news and a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.