Sandon Capital Investments (SNC) H2 2024 earnings summary

Executive summary

• Achieved a 17.1% total shareholder return (NTA before tax per share plus dividends and franking credits) for FY24, outperforming market benchmarks.

• Gross investment return was 19.9% before fees, expenses, interest, and taxes, with most gains in the first half of the year.

• Net profit after tax rose to $14.36 million, up from $1.90 million in FY23.

• Portfolio value at year-end was $145.3 million, with $8.1 million in cash and cash equivalents.

Financial highlights

• Revenue from ordinary activities was $20.72 million (FY23: $5.07 million).

• Net profit before tax was $15.31 million (FY23: $2.32 million).

• Net tangible assets (NTA) before tax per share increased to $0.8067 (FY23: $0.7515).

• Fully franked dividends of 5.5 cents per share paid during the year.

• Cash and cash equivalents increased to $8.1 million from $147,122.

Outlook and guidance

• Directors intend to pay a final fully franked dividend of 2.75 cents per share, with DRP available.

• Profit reserves and franking credits support continued fully franked dividends of at least 5.5 cents per share per annum.

• Management expects ongoing volatility and uncertainty but sees opportunities for attractive risk-adjusted returns.