London City Equities (ASX: $LCE) Half-Year Report Overview

London City Equities Limited (ASX: $LCE) has reported a strong performance for the half-year ending 31 December 2023. The company's net profit after tax for the six months was $186,000, reflecting ongoing increases in dividend income and careful cost monitoring. The investment portfolio values rose by 9.0% since 30 June, outperforming the All Ordinaries Index. The final dividend for 2023 was increased to 1.45 cents a share, fully franked and with Dividend Reinvestment Plan participation. The company's net assets rose to over $19 million, close to historic record levels, at 61 cents a share after paying a higher fully franked dividend to shareholders in October.

Chairman's Key Points on Performance and Outlook

Directors are pleased with the strong performance over the past six months, with both assets and income showing significant improvement. The company remained near fully invested, and interim dividends due in March are expected to restore adequate liquidity. The net profit after tax of $186,000 was supported by higher dividend receipts and careful cost monitoring. Shareholders were rewarded with another increase in dividend payout, reaching 1.45 cents a share, fully franked and with Dividend Reinvestment Plan participation. The investment portfolio values rose by 9.0% since 30 June, outperforming the All Ordinaries Index. The company's net assets rose to over $19 million, close to historic record levels, at 61 cents a share after paying a higher fully franked dividend to shareholders in October. The company's immediate performance depends on the Excelsior situation, and the board is focused on maximizing investment value.

Summary of London City Equities (ASX: $LCE) Half-Year Report

London City Equities (ASX: $LCE) has reported a strong half-year performance, with significant improvement in both assets and income. The net profit after tax for the six months was $186,000, supported by higher dividend receipts and careful cost monitoring. The investment portfolio values rose by 9.0% since 30 June, outperforming the All Ordinaries Index. Shareholders were rewarded with another increase in dividend payout, reaching 1.45 cents a share, fully franked and with Dividend Reinvestment Plan participation. The company's net assets rose to over $19 million, close to historic record levels, at 61 cents a share after paying a higher fully franked dividend to shareholders in October. The company's immediate performance depends on the Excelsior situation, and the board is focused on maximizing investment value. The overall trend looks positive with the pause in interest rate increases by the Reserve Bank, and the company's outlook depends on the Excelsior situation and the market trend.