Argo Investments (ASX:ARG) has released its half year results for the period ended 31 December 2019.
Profits for the half year under review were down 24.4 per cent on the previous corresponding period to $118.8 million.
Earnings per share were decreased 24.9 per cent to 16.6 cents per share.
The company says the decline in profit was driven by a one-off non-cash income item which was recorded in last year’s first half profit – that being the $36.1 million demerger dividend due to Wesfarmers divesting Coles Group.
The directors have declared a fully franked interim dividend of 16 cents per share payable on 6 March 2020.
Shares in Argo Investments (ASX:ARG) are trading 0.8 per cent lower at $8.68.