ARG 0.46% $8.83 argo investments limited

News: Argo sees FY profit slide 2.8%

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    Argo Investments Limited (ASX:ARG) full year net profit has slid 2.8 per cent to $167.3 million from the same time last year.



    Argo’s chief says its performance over the financial year was solid considering the difficulty in the Australian equity market over the year . 


     


    The Adelaide-based investment firm maintains a positive outlook citing low unemployment, inflation as well as a strong currency which will allow it to weather future economic shocks. 


     


    The company says it had cash reserves of about $150 million and no debt.



    Argo has declared a final fully franked dividend of 13 cents, payable in September.

 
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