Soul Pattinson (ASX:SOL) reports 27.7% fall in profit

Company News

by Melissa Darmawan

Diversified investment house, Washington H. Soul Pattinson (ASX:SOL) reports a fall of 27.7 per cent in the Group's regular profit after tax of $90.2 million for the half year ended 31 January 2021.

The company’s revenue from continuing operations fell 18.8 per cent to $589.2 million.

The company attributes the results to reduced contributions from New Hope Corporation and the de-recognition of internet service provider TPG with its equity accounts no longer adding to its profits.

A fully franked interim dividend of 26 cents per share, an increase of 4.0 per cent is set to be paid in May.

Shares in Washington H. Soul Pattinson (ASX: SOL) are trading 2.5 per cent higher at $31.75.