Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Search
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)
Hang Seng
17,601.39
(-0.2%)
Dow Jones
40,415.44
(0.32%)
Nikkei 225
39,665.15
(0.17%)
FTSE 100
8,198.78
(0.53%)
USD/AUD
0.6690
(-0.32%)
Bitcoin
67,675.89
(-1.09%)
Oil
79.95
(0.21%)
Gold
2,402.60
(0.33%)
Lithium
41.42
(1.37%)
Iron Ore
102.1
(-1.33%)

Glennon Small Companies (ASX: $GC1) reports decreased revenue and net profit in H1 FY24

Glennon Small Companies (ASX: $GC1) H1 FY24 Financial Results


Glennon Small Companies Limited (ASX: $GC1) has reported a decrease in revenue from ordinary activities to $0.624m and net profit from ordinary activities before tax to $0.052m for the half-year ended 31 December 2023. The decrease was primarily attributed to lower combined realised and unrealised losses on the portfolio recognized during the half-year. The company also announced an interim ordinary dividend of 1 cent per fully paid share, fully franked at 30%, and an unfranked dividend on Resettable Redeemable Convertible Preference Shares (RRCPS) of 28 cents per RRCPS to be paid on 2 April 2024.

Executive Commentary on H1 FY24 Performance


The operating profit before tax including realised and unrealised investment movements was $52,000 to 31 December 2023, trailing behind the previous corresponding period. The net result after tax was a profit of $180,000. The Company's portfolio returned +1.44% during the six months ended 31 December 2023, trailing behind its benchmark (S&P/ASX Small Ordinaries Accumulation index), which rose +6.42% over the same period. The Company addressed the market challenges by reducing nano cap exposure in the portfolio to 11% and micro cap exposure to 6%. Additionally, a buyback was announced in November 2023 to improve the discount and low levels of liquidity in the Company.

Summary of H1 FY24 Report and Outlook


Glennon Small Companies (ASX: $GC1) reported a decrease in revenue and net profit for the half-year ended 31 December 2023, primarily due to lower combined realised and unrealised losses on the portfolio. The company announced an interim ordinary dividend of 1 cent per fully paid share, fully franked at 30%, and an unfranked dividend on Resettable Redeemable Convertible Preference Shares (RRCPS) of 28 cents per RRCPS to be paid on 2 April 2024. The Company addressed market challenges by reducing nano cap exposure in the portfolio and implementing a buyback in November 2023. Looking ahead, the Company aims to navigate market volatility and enhance shareholder value through strategic portfolio adjustments and prudent financial management.

Share to Social
0 Comments
Inline Feedbacks
View all comments

Stock Piper AI Index Coming Soon!

Join our Newsletter to gain exclusive insight and be notified once we are live.

By clicking Subscribe, you agree to our Terms & Conditions

ASX News, First And Fast.

Get all the latest market updates straight to your inbox.

By clicking Subscribe, you agree to our Terms & Conditions