12/02/2025 16:18:52
Sandon Capital Investments (ASX: SNC) has reported a net profit after tax of $16.77 million for the six months to 31 December 2024, driven by strong investment returns. The company’s portfolio delivered a gross return of 17.7% for the period, more than double the broader market’s return as measured by the All Ordinaries Accumulation Index. Total shareholder returns stood at 16.6%.
In December, SNC announced plans to implement quarterly fully franked dividends to provide shareholders with a more frequent income stream. The first quarterly dividend of 1.4 cents per share, representing an annualised dividend of 5.6 cents per share, will be paid on 7 March 2025. The dividend reinvestment plan will apply, with no discount. SNC has sufficient profit reserves to fund more than four years of dividends at the current rate.
The company’s strong performance was attributed to investments in Nuix Ltd, Fleetwood Ltd, Midway Ltd, and Wellard Ltd. Nuix and Fleetwood benefited from market recognition that they were overcoming challenges, while Midway was subject to a takeover at a premium valuation. Wellard sold its last ship at nearly three times its book value. SNC also highlighted Global Data Centres as another company where assets were sold at a premium.
SNC remains confident in its investment strategy and sees signs of increasing corporate and private market confidence, reflected in rising takeover activity. The company is actively considering new investment opportunities and continues to encourage its portfolio companies to enhance their operations.