Ariadne Australia Limited (ASX:ARA) Reports 62.5% Revenue Growth and Declares Interim Dividend
Financial Performance
Ariadne Australia Limited reported a 62.5% increase in revenues for the half-year, reaching $5,850k compared to $3,599k in the previous period. Net profit attributable to members surged by 1,000.7% to $2,711k from a loss of $301k. However, the total comprehensive profit decreased by 124.4% to a loss of $2,419k compared to a profit of $9,896k.
Dividends and Capital Management
The Directors declared a fully franked interim dividend of 0.5 cents per ordinary share for the financial year ending 30 June 2025. The record date for the dividend is set for Monday, 17 March 2025, with payment scheduled on Thursday, 27 March 2025. Additionally, the final dividend of 0.5 cents per share for the 2024 financial year was paid on 26 September 2024. During the period, Ariadne also bought back and cancelled 88,090 shares at a cost of $47.
Operational Highlights
Ariadne entered into agreements to sell interests in Orams Group Limited and Orams Residential Limited, significantly reducing OGL’s debt facilities and enhancing stable cash flows. The investment division recorded a net profit of $3,758k, while the property division achieved a net profit of $1,145k. Cash and cash equivalents increased to $30,700k.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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