Washington H Soul Pattinson (ASX:SOL) records over 154% NPAT in FY22

Highlights: 

• Washington H Soul Pattinson released its fully audited FY22 results on ASX on Wednesday (21 September 2022). 
• Washington’s FY22 results featured a 154.4% gain in its regular profit after tax in FY22. 
• The company announced total ordinary dividend of 72 cps and special dividend of 15 cps.

Investment holding company Washington H Soul Pattinson & Company Limited (ASX:SOL) released its fully audited financial results for FY22 ended on 31 July 2022. The company reported a gain of 154.4% in its group regular profit after tax in FY22, compared to the previous corresponding period (FY21).  

Meanwhile, shares of Washington H Soul Pattinson closed trading at AU$27.100 per share, up 4.957% on ASX on Wednesday (21 September 2022). 

Details of Washington H Soul’s FY22 results: 

Following are the key pointers of Washington H Soul’s FY22 results:

• Washington H Soul generated AU$834.6 million in regular group profit after tax in FY22, up by 154.4% compared to the previous corresponding period.
• Washington H Soul’s net cash flow from investments went up by 28% on a per share basis compared to the previous corresponding period.
• The company’s pre-tax net asset value went up by 13.8% per share in the given period.
• As per the company’s release, Milton successfully integrated and provided wider diversification and liquidity to Washington H Soul to pursue new investments across a range of asset classes.

Washington H Soul claimed that it performed ‘significantly better’ than the marker in FY22. In a period where the market fell by 6.4%, the company’s portfolio on a per share basis increased. Furthermore, Washington’s net asset value per share before tax also outperformed the market by 20.2% during this period.

The company believes that all parts of its portfolio showed strong performance against relevant benchmarks or expected hurdles. Washington also added that its portfolio was actively managed to adjust for the significant shift in interest rates, expected inflation and equity market condition throughout FY22, even during a volatile market condition.  

Lastly, Washington H Soul’s total transaction value of the purchase and sale of assets in the portfolio exceeded AU$7 billion in FY22.

Washington H Soul Pattinson’s dividend distribution plan: 

The board of Washington H Soul Pattinson determined to pay a fully franked final ordinary dividend worth 43 Australian cents per share to its eligible shareholders on 12 December 2022. This sums up to a total dividend of 72 Australian cents per share of fully franked dividend in FY22.

The board of the company also decided to pay a fully franked special dividend of 15 Australian cents per share.