Whitefield Industrials (WHF) Q1 2025 TU earnings summary

Executive summary

• Net Profit after Tax for Q1 FY2025 was $4.4m, with revenue stable compared to Q1 last year.

• Earnings per share were 3.6 cents, slightly down from 3.7 cents year-over-year.

• Portfolio return for the quarter was 0.1%, with a 17.8% return over the past year.

• Dividend for the half year ending September 2024 expected to be maintained at 10.25 cents, fully franked.

Financial highlights

• Revenue for Q1 FY2025: $5.58m, down 0.1% year-over-year.

• Profit before tax: $4.76m, down 1.7% year-over-year.

• Net Asset Backing (post-tax) per share: $5.18; share price at quarter-end: $5.12.

• Share price trading at a 1.10% discount to post-tax NAB.

Outlook and guidance

• Earnings trajectory for FY2025 will become clearer by September; dividend increase considered if sustainable earnings growth achieved.

• Dividend expected to be maintained for the half year, subject to final review.

• Economic growth supported by population and employment, but inflation and cost pressures persist.

• Central banks likely to keep interest rates stable; stable rates seen as favorable for medium- to long-term outlook.