Investment firm Argo Investments has lifted first half profit 8.9 per cent on higher dividends and increased market volatility.
Argo says net profit for the six months to December 31 was $114.2 million, up from $104.8 million for the prior corresponding period.
Argo's portfolio outperformed the broader Australian share market over the calendar year, returning a total of 2.8 per cent compared to 2.6 per cent for the benchmark S&P/ASX200 accumulation index, helped by it being underweight on resources.
"In a continued low interest rate environment, we believe the overall yield available in the Australian equity market remains attractive," managing director Jason Beddow said.
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