Argo Investments Limited (ASX:ARG)
full year net profit has slid 2.8 per cent to $167.3 million from the same time last year.
Argo’s chief says its performance over the financial year was solid considering the difficulty in the Australian equity market over the year .
The Adelaide-based investment firm maintains a positive outlook citing low unemployment, inflation as well as a strong currency which will allow it to weather future economic shocks.
The company says it had cash reserves of about $150 million and no debt.
Argo has declared a final fully franked dividend of 13 cents, payable in September.