Djerriwarrh Investments profit halved
Djerriwarrh Investments Limited (DJW) said its reported profit for the six months to 31 December 2009 had slumped by nearly half to just $15.1 million as companies slashed dividend payouts in the face of the GFC.
The company said its net operating profit was down 45.5%, in line with previous expectations, to $20.1 million. This figure, the company said, was more relevant as it ruled out such as losses as those incurred from meeting new accounting standards, and instead focused on underlying income generated from the investment and trading portfolios.
”Income from option activity was also down as volatility levels fell, interest rates remained low and markets recovered,” the company said.
The board said its interim would be 10c per share, fully franked, with the intention remaining of maintaining last year's 16c per share total dividend payout.
At 1042 AEDT, Djerriwarrh Investments shares were up 3c to $4.60.
Leave a Reply