Aust Leaders Fund posts H1 profit swing

Company News

Investment company Australian Leaders Fund Limited (ASX:ALF) generated a net profit of $10.8 million for the first half, swinging from an $8.8 million loss in the previous corresponding period.

The company says the gain is a reflection of an increased portfolio value over the first half.

The value of Australian Leaders Fund portfolio increased by 19.78 per cent in the period.

Chairman Justin Braitling says while most of the company’s capital was held in cash and corporate bonds, it was still able to outperform a strong market.

The company has declared a fully franked interim dividend of 6 cents for shareholders. 

ALF reported a $1.3 million loss in the 2012 financial year. 

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