Washington H. Soul (ASX:SOL) delivers record FY21 results


  • Washington H. Soul (ASX: SOL) has recorded a regular profit after tax worth AU$328.1 million in the FY21 results.
  • SOL’s regular profit after tax rose 93%.
  • The profitable results allowed the Company to declare its highest dividend in 19 years.

The ASX-listed diversified investment house, Washington H. Soul Pattinson and Company Limited (ASX:SOL) announced the results for the year ended 31 July 2021. The Company has reported a regular profit after tax of AU$328.1 million for the period, compared to AU$169.8 million in FY20.

SOL reported Group Profit after tax attributable to members, AU$273.2 million, down 71% compared to the FY20 result. The downfall in the Group Profit after tax was mainly attributable to the FY20 year, including a sizeable one-off accounting gain of AU$1.05 billion due to WHSP derecognising TPG as an associate following its merger with Vodafone. This was treated as a non-regular gain in FY20.

SOL also shared in the announcement that the regular profit excludes one thing. It is considered by the Board to be a better reflection of the underlying performance of significant investments.

SOL’s regular NPAT was up 93% primarily due to the following:

  • Brickworks’ contribution of AU$82 million, showing a 95% increase from improved performance in the Building Products Australia division and a strong result from its Property division.
  • New Hope’s contribution of AU$61 million, up by 45% on FY20, causing a substantial recovery in thermal coal markets.
  • Round Oak Minerals increased its profit contribution by AU$103 million through improved production levels at all operations combined with a strengthening of commodity prices and lower ore treatment charges.
  • SOL’s other investing activities increased their contribution by 87% to AU$129 million as markets recovered from the COVID-19 crisis.

About Washington H. Soul

Washington H. Soul Pattinson and Company Limited is an Australia- based investment house. The Company has investments in diverse portfolios such as natural resources, pharmacies, telecommunication, building materials, etc.

Meanwhile, on the ASX, SOL traded 4% higher at AU$37.060 per share.

Bottom line

The results portray promising future of WHSP. Like any other year, the Company has offered consistent and growing dividends to its shareholders this year.





Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK