Washington H. Soul reports strong Half-Year results

On 23 March 2023, Diversified investment firm, Washington H. Soul Pattinson and Company (ASX: SOL) has announced result for half year ended 31 January 2023, which reported:

•  A regular profit after tax of AU$475.7 million for the half-year period ended on 31 January 2023. This is a 38.4% increase on the previous year.
• Net asset value was AU$10.5 billion for the same period, an increase of 16.0% on the prior corresponding period, while the fully franked interim dividend was approved at 36 cents per share, up 24.1% on the previous year.
• Net cash flows from investments increased by 35.0% to AU$246.5 million. The main contributors to the growth were Strategic Portfolio investments, Brickworks and Apex Healthcare.
• The company’s portfolio is defensively positioned with a current bias towards alternative assets and cash reserves.
• The Private Equity portfolio also continued to deploy value-accretive acquisition opportunities, investing a further AU$152.8 million in agricultural and real assets.
• The company’s cash balance was at AU$597.3 million, 257.7% higher than the previous year, which provides it with the flexibility to take advantage of market dislocation.

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