Washington H. Soul Pattinson and Company see fall in NPAT

Company News

by Rachael Jones

Diversified investment house, Washington H. Soul Pattinson and Company (ASX:SOL) reports a regular profit after tax of $331.1 million for the full year ended 31 July 2018, an increase of 17.4 per cent on the previous corresponding period.

The net increase was attributable to a number of investments notably the New Hope Corporation (ASX:NHC), Apex Healthcare, Financial Services Portfolio, and Brickworks (ASX:BKW).

Net profit after tax (NPAT) was $266.8 million for the full year, down 20 per cent on the previous corresponding period.

This was impacted by non-regular losses of $64.3 million which predominantly related to New Hope’s impairment of an undeveloped exploration project in Queensland.

Shares in Washington H. Soul Pattinson and Company (ASX:SOL) are 6 per cent lower at $24.12.