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Contact

Andrew Porter
+6139650 9911
Mail Box 146, 101 Collins Street, Melbourne, VIC 3000
www.afi.com.au

Australian Foundation Investment Company Limited Analysis

Overview

Australian Foundation Investment Company Limited specializes in investing in Australian equities. The Company has a diverse portfolio of 75 Australian companies. The Company follows a dividend reinvestment plan which allows investors to cost effectively put their dividends back into the Company.

The company focuses on investing in Australian companies with assets, brands and/or business footprints that can withstand the business cycles. The Company also looks for management and Board strength and for sound, disciplined financial metrics covering returns on investment, profit margins, cash flow and gearing.

Australian Foundation Investment Company is listed on NZX under the code of AFI since August 1996. It is also listed on ASX. AFI has completed a number of Share Purchase Plans during the years.

Performance

The following information was extracted from Australian Foundation Investment Company Limited's Full Year Results, released 29 July 2024:

Results for Announcement to the Market

  • Net Profit was $296.4 million, down 4.4% from the prior year.
  • Net Profit attributable to members (excluding minority interests) was $296.2 million, down 4.4% from the prior year.
  • Revenue from operating activities was $334.4 million, down 2.8% from the prior year.
  • The Management Expense Ratio (“MER”) calculated as the net expenses of managing the Company as a percentage of the average value of its investments including cash over the year, was 0.15% for the year (2023: 0.14%).
  • Net tangible assets as at 30 June 2024, before allowing for the final dividend and before the provision for deferred tax on unrealised gains in the investment portfolio were $7.88 per share (2023: $7.19).

In any given GDT Event the GDT website may display a range of results other than price, as explained:

  • ' – ' means that the product was not offered.
  • ‘n.s.’ (not sold) means that no product was sold.
  • ‘n.p.’ (not published) means that product was sold at the starting price, and therefore GDT cannot publish the winning price. For an explanation of this rule, see question 9 in the "Common questions" page under "About GDT" at www.globaldairytrade.info
  • 'n.a.' for the Average Winning Price means that no prices were available for that contract period (for the reasons above), and therefore no average price was applicable.

For clarification where GDT publishes ' – ' or ‘n.s.’ (not sold) NZX results will also display a '-' or 'n.s'.

Where the GDT website displays ‘n.p.’ (not published), NZX will display the starting price. Note that the NZX results page will not differentiate between prices that are equal to starting price or those that have exceeded starting prices.

'n.a.' for the Average Winning Price as displayed on the GDT website are not displayed on this results page.

Note that N/A in the table below means there has been no change between current and previous price.