Soul Pattinson annual profit declines

Washington H Soul Pattinson's statutory full year net profit has fallen due to non-regular items, but underlying profit rises.

Investment group Washington H Soul Pattinson's profit has dropped by more than a third due to impairments and non-regular items but has seen earnings rises across its major divisions.

Net profit fell 36.7 per cent at $83.3 million, dragged down by more than $123.8 million worth of impairment charges.

However underlying profit rose 27 per cent to $156.45 million thanks to higher contributions from TPG Telecom, mining company New Hope and building products group Brickworks.

The company increased its final dividend to 30 cents from 29 cents, fully franked.


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Source: AAP


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