Profits for the half year under review were down 24.4 per cent on the previous corresponding period to $118.8 million.
Earnings per share were decreased 24.9 per cent to 16.6 cents per share.
The company says the decline in profit was driven by a one-off non-cash income item which was recorded in last year’s first half profit – that being the $36.1 million demerger dividend due to Wesfarmers divesting Coles Group.
The directors have declared a fully franked interim dividend of 16 cents per share payable on 6 March 2020.
Shares in Argo Investments (ASX:ARG) are trading 0.8 per cent lower at $8.68.