Investment fund AMCIL H1 profit dips

Company News

Listed investment fund AMCIL Limited (ASX:AMH) has reported a 2.2 per cent fall in its net profit, coming in at $4.9 million for the first half of the 2012 financial year.

In the six months to the end of December 2011 AMCIL’s revenue from investments rose 6 per cent from the year before to $4 million and net operating result slipped 9.4 per cent to $3 million.

The company delivered a positive return of 0.5 per cent in the period, about 10 per cent ahead of the S&P/ASX 200 index return of negative 9.7 per cent.

Major contributions to the fund’s performance in the half year included gains in Hastings Diversified Utilities Fund (ASX:HDF), Telstra Corporation Limited (ASX:TLS), Transurban Group (ASX:TCL), Senex Energy Limited (ASX:SXY) and Eastern Star Gas Limited (ASX:ESG).

No interim dividend has been declared but the company paid a fully franked final dividend of 3.5 cents in August 2011. 

Shares in AMCIL closed 1.49 per cent higher yesterday at $0.68. 

In the year to the June 30, 2011 AMCIL reported a net profit of $8.4 million.


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