IVE Group (ASX:IGL) first-half net profit soars 92%

Company News

by Melissa Darmawan

IVE Group (ASX:IGL) reported an net profit of $23.79 million, up 92 per cent from $12.36 million reported a year ago.

Revenue declined 3 per cent to $340.8 million, from $352.2 million last year.

The company divested IVE Telefundraising, formally Pareto Phone, for $16.5 million, and a net gain on sale of $4.2 million.

The company reaffirmed previous full year guidance, despite challenging conditions.

They will pay an interim dividend of 7 cents a share in April.

Shares in IVE Group (ASX:IGL) are trading 10.8 per cent higher at $1.44.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.