Milton Corporation FY17 NPAT & revenue fall

Company News

by Jessica Amir

Milton Corporation (ASX:MLT) has reported its full year 2017 net profit after tax (NPAT) fell 4.3 per cent to $122.4 million, from the prior corresponding period.

The listed investment company’s portfolio of ASX companies hit $2.76 billion at 30 June 2017.

Milton’s operating revenue fell 3.1 per cent (from FY16) to be $128.7 million for FY17.

Milton says its investment income rebounded in the second half of the year, with 60 per cent of the portfolio paying higher dividends, and almost recovering from the first half’s fall in earnings from companies like BHP (ASX:BHP), Woolworths (ASX:WOW), ANZ Banking Corporation (ASX:ANZ) and Rio Tinto (ASX:RIO).

The company declared its fully franked final dividend increased to 10 cents per share, to take the full year dividend to 18.7 cents per share.

Shares in Milton Corporation (ASX:MLT) are trading 0.66 per cent higher to $4.61 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.