Washington H. Soul Pattinson and Company report fall in NPAT

Company News

by Rachael Jones

Diversified investment house, Washington H. Soul Pattinson and Company (ASX:SOL) today announced the Group’s results for the full year ended 31 July 2019, reporting a net profit after tax (NPAT) of $247.9 million for the year, down 7.1 per cent on the previous corresponding period.

The regular profit result was driven by positive contributions from Brickworks, which is up by 22.9 per cent to $54.7 million due to another strong result from property activities; also income from investments (loans and equity portfolios), up by 63.3 per cent due to stronger dividend and interest income;

And the Property Portfolio, up by 157.1 per cent to $11.0 million following the completion and sale of projects; and the Financial Services Portfolio, up 28.2 per cent to $23.5 million primarily due to increased dividend income.

Total Dividends (fully franked) 58 cents up 3.6 per cent.

Shares in Washington H. Soul Pattinson and Company (ASX:SOL) closed 0.13 per cent lower at $22.29.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.