Thursday, 26 March 2015: Diversified investment company, Washington H. Soul Pattinson and Company Limited (WHSP, ASX: SOL) today announced regular profit after tax∗ attributable to shareholders for the half year ended 31 January 2015 of $84.8 million, an increase of 33.6% when compared to $63.5 million for the previous corresponding period.
The net increase was primarily attributable to higher contributions from New Hope Corporation Limited (New Hope), TPG Telecom Limited (TPG) and Brickworks Limited and an improved result from CopperChem Limited.
The profit after tax (including non-regular items) was $67.3 million, a decrease of 8.7% when compared to $73.7 million for the previous corresponding period.
The loss on non-regular items for the half year ended 31 January 2015 was $17.5 million (2014: $10.3 million profit) consisting mainly of impairments which were largely offset by the reversal of impairments made in prior periods.
Chairman of WHSP Mr Robert Millner said: “Our diversified portfolio of investments has again delivered a strong result for shareholders. We are pleased to announce an increase in the interim dividend to 20 cents, up from 19 cents on the previous corresponding half year.
“WHSP has cash reserves including wholly-owned subsidiaries of $191.7 million which means we are in a strong financial position.”
∗ Regular profit after tax is a non-statutory profit measure and represents profit from continuing operations before non-regular items. A reconciliation to statutory profit is included in the half year financial report – Note 2, Segment Information.