Pacific Current Group Releases Interim Financial Report
Key points
- Underlying net profit after tax down 8.8% to $15.3 million
- Interim dividend of 15 cents per share declared
- Proposed $300 million off-market share buyback
- Funds under management down 29% to $30 billion
Full summary
Pacific Current Group Limited (ASX:PAC) has released its Appendix 4D and Interim Financial Report for the half-year ended 31 December 2024. The company reported an 8.8% decline in underlying net profit after tax to $15.3 million, compared to $16.7 million in the prior corresponding period. Revenue from ordinary activities decreased by 3.4% to $21.3 million. The company has declared an interim dividend of 15 cents per share, unfranked, to be paid on 10 April 2025. During the period, the company disposed of its investments in Carlisle Management Company, Victory Park Capital Advisors, and Banner Oak Capital Partners, resulting in significant gains. The company also recognized impairments and fair value adjustments on certain investments. Funds under management decreased by 29% to $30 billion, primarily due to the divestment of Carlisle and Banner Oak. On 30 December 2024, the company announced a proposed $300 million off-market share buyback, representing approximately 47.9% of the company's issued share capital, subject to shareholder approval.
Guidance
The company has not provided any high-importance, price-sensitive forward-looking financial metrics.
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