Company’s portfolio returned 6.4% including franking credits, significantly trailing the S&P/ASX 200 Accumulation Index return of 15.1%
MELBOURNE: Investment firm AMCIL Limited announced a full-year profit of $6.7 million for 2024/2025, down from $7.5 million the previous year, amid portfolio underperformance relative to the broader Australian market.
The company’s portfolio returned 6.4% including franking credits, significantly trailing the S&P/ASX 200 Accumulation Index return of 15.1%. Despite this, AMCIL declared a total fully franked dividend of 6.5 cents per share, comprising a 2.5-cent final dividend and a 3.0-cent special dividend. This exceeded 2024’s total payout of 4.0 cents.
Net tangible assets (NTA) stood at $1.29 per share as of June 30, 2025, while shares traded at a discount at $1.08. Management highlighted headwinds in key holdings, including Macquarie Technology Group, ARB, Reece Group, and James Hardie, while admitting it exited Commonwealth Bank “too early” after strong gains.
Portfolio activity included exits from Commonwealth Bank, PEXA, and Cuscal, trimming of Wesfarmers and Westpac due to “elevated valuations,” and new investments in Sigma Healthcare, Life360, and Amcor. The firm emphasized its focus on “quality companies with competitive advantages” and conservative balance sheets.
Looking ahead, AMCIL noted “elevated and polarized” equity valuations globally but highlighted its cash reserves to capitalize on market opportunities.