WAM Capital books 40% profit jump
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The news: Investment company WAM Capital has recorded a 40.6% rise in first-half profit and maintained its interim dividend.
The numbers: WAM posted operating profit after tax of $149.8 million and declared an interim dividend of 7.75 cents per share, 60% franked.
The Sydney-based company said its investment portfolio outperformed the S&P/ASX All Ordinaries Accumulation Index by 8% and the S&P/ASX Small Ordinaries Accumulation Index by 9.4% during the six months to December.
WAM's shares were up 0.6% to $1.63 in early trading, roughly in line with the broader market.
The context: WAM said it outperformed both indices despite a "challenging" environment, marked by the continued underperformance of small-cap companies.
However, it said the favourable interest rate environment should help the company capture opportunities in 2025.
The source: ASX announcement
