End of Day Prices Last Open High Low 17.100 16.900 17.100 16.900 Change % Change Volume Date 0.310 1.81% 30383 04 Aug 2005
(Net Tangible Assets) 16.78
Milton net profit up 24pc to $52.5m; final dividend 32c
03-Aug-05
Milton net profit up 24pc to $52.5m; final dividend 32c
Sydney - Wednesday - August 3: (RWE Australian Business News) - Milton Corporation Ltd (ASX code: MLT), a "traditional" Listed Investment Company, lifted net profit 23.8 per cent to $52.53 million in the 12 months to June 30 from $42.44 million for the previous year.
Underlying net profit, which excludes special dividends of $4.5 million after tax, was up 23.5 per cent to $47.97 million.
Revenues from ordinary investment activities rose 26.9 per cent to $56.13 million while revenue from sales of capital investments fell 1.1 per cent to $20.09 million.
Basic earnings per share rose 17.6 per cent to 75.0c from 63.8c, or 17.3 per cent to 68.5c from 58.4c on an underlying basis.
Final dividend has been increased by 4c to 32c, fully franked, payable on August 30 to shareholders registered August 23.
This brings total payout for the year to 60c, up from 53c.
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Chairman Mr Robert Millner said, "The results were consistent with comments made by the company 12 months ago when the board anticipated a strong reporting period for the year ahead from stocks held in the portfolio.
"The majority of holdings in our portfolio benefited from sound domestic and global economies, with 90 per cent of the portfolio reporting increased profits and dividends."
"Looking ahead, we expect many company results for the second half of the 2004/2005 year will still be strong.
"However, there are some signs of weakness starting to emerge in the economy and we will be interested in what the companies have to say in their outlook statements for the year ahead," he said.
The value of Milton's portfolio of Australian listed shares and trusts exceeded $1.1 billion at June 30.
At June 30, net asset backing before provision for tax on unrealised capital gains was $16.78, an increase of 20 per cent over the previous year.
Milton shares opened down 5c to $16.80 today(03-Aug-05 ).
Rgds MOJO.
MLT Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
