FINANCIAL services company Keybridge Capital has booked a net profit of $7.16 million for the six months to December 2007 – up 80% on the previous half year.
Managing director Mark Phillips said the company’s core earnings were very pleasing with an average return on investments of 17% per annum.
“In addition, profit shares on our investments, as well as a lower tax rate on some income, partly offset the final provisions on our securitisation investments. Looking forward, we can now focus on the robust underlying profitability of the business.
“The growth in investments has been spread principally across three of the Company’s core asset classes, property, infrastructure and aviation,” he added.
Phillips said the company expects to report NPAT for the full 2008 financial year of at least $20 million. This equates to earnings per share of just over 11 cents and is unchanged from previous guidance.
“The company remains confident of growing earnings per share. In the shorter term this growth will come from an increase in investments and the removal of the impact of the securitisation provisions.
“Over the medium to longer term, growth in earnings per share will also come from the building up of fee income from funds management and from the company selectively internalising the origination and asset management activities associated with its investments,” he concluded.
Keybridge Capital has declared an interim dividend is 4.0 cents per share, fully franked.
Share in Keybridge Capital closed 1.5 cents lower at $1.05.
Australian Property Journal
