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AMCIL
AMCIL (AMH) investor relations material
AMCIL H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary22 Jan, 2026
Executive summary
Half-year profit after tax reached $4.1 million, up 14.8% year-over-year, mainly due to improved options trading and stable dividends.
The investment approach targets high-conviction, quality companies with strong balance sheets, unique assets, and long-term growth potential.
The portfolio is focused on Australian and New Zealand companies, with low management costs and strong alignment of interests through equity ownership by directors and staff.
The portfolio experienced significant underperformance over the past year, primarily due to lack of exposure to banks and gold, and overweight positions in quality compounders.
Management remains committed to a long-term, low-turnover investment style, despite recent market headwinds.
Financial highlights
Profit for the half-year was $4.1 million, up from $3.6 million in the previous year.
Management expense ratio (annualized) improved to 0.43% from 0.53% last year.
Fully franked interim dividend per share maintained at 1.0¢.
Portfolio value at $358 million as of period end, down from $423.1 million in 2024.
NTA per share at $1.12, with share price at $1.01 at period end.
Outlook and guidance
Market valuations are considered full, with high PEs and low dividend yields in both Australia and the U.S.
Management remains cautious, maintaining strong cash reserves to capitalize on future opportunities in quality companies.
The board will consider special dividends and further buybacks depending on franking credits and market conditions.
Emphasis on resilience through strong balance sheets and aligned management.
Re-evaluate short-term opportunities?
Rationale for holding underperforming large caps?
LIC discount: market signal or structural issue?
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Next AMCIL earnings date
H2 202630 Jul, 2026
AMCIL
Next AMCIL earnings date
H2 202630 Jul, 2026
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Frequently asked questions
AMCIL Limited is an Australian-listed investment company that focuses on generating long-term capital growth and income through a diversified portfolio of primarily Australian equities. The company invests in high-quality, growth-oriented companies across various sectors, with an emphasis on sustainable earnings and dividend potential. AMCIL takes a disciplined approach to stock selection and portfolio management, aiming to provide shareholders with consistent returns over time. The company is headquartered in Melbourne, Victoria, and its shares are listed on the ASX.
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