Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)
Lithium
47.00
1.4%
Gold
2,611.50
(0.54%)
Copper
4.16
(2.05%)
Oil
68.50
0.51%
Bitcoin
86,043.95
(3.04%)
FTSE 100
8,051.40
(0.91%)
Nikkei 225
39,376.09
(0.67%)
Dow Jones
44,293.13
0.53%
Iron Ore
100.65
(0.01%)
USD/AUD
0.66
(0.42%)
Hang Seng
19,846.88
(2.4%)

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.

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