HFA Holdings Limited Declares Interim Dividend, Payable on March 27, 2014; Reports Consolidated Earnings Results for the Six Months Ended December 31, 2013; Announces Resignation of Kate O'donohue as Company Secretary
February 11, 2014 at 11:06 pm EST
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The directors of HFA Holdings Limited declared fully franked interim dividend of 3.0 cents per share. The dividend will be paid on March 27, 2014 to all shareholders registered on the record date of March 4, 2013.
The company reported consolidated earnings results for the six months ended December 31, 2013. For the period, the group has announced a net profit after tax of $6.9 million, a significant 167% increase on the prior year of $2.6 million. Driven by an increase in performance fee revenue and a reduction in direct distribution and investment costs, net operating income increased by 12%. A further 7% decrease in operating expenses led to a 51% increase in earnings before interest, tax, depreciation and amortization (EBITDA) to $13.1 million compared to $8.6 million a year ago. Net operating income was $32.2 million, up 12% on prior year. Revenue was $35,491,000 compared to $33,632,000 a year ago. Operating income was $32,168,000 compared to $28,614,000 a year ago. Profit before income tax was $6,898,000 compared to $2,594,000 a year ago. Basic earnings per share were 3.908 cents compared to 1.919 cents a year ago. Net cash from operating activities was $4,644,000 compared to $6,402,000 a year ago. Acquisition of plant and equipment was $447,000 compared to $130,000 a year ago. The company has announced a increase in net profit after tax of 167% increase on the prior year. Driven by an increase in performance fee revenue and a reduction in direct distribution and investment costs, net operating income increased by 12%. A further 7% decrease in operating expenses led to a 51% increase in earnings before interest, tax, depreciation and amortisation (EBITDA).
The company also announced that Kate O'Donohue has resigned as company secretary, effective from February 12, 2014. Ms O'Donohue held the position of joint company secretary since March 2012. Amber Stoney, Chief Financial Officer, will continue in her role as Company Secretary of the company.
Navigator Global Investments Limited is an Australia-based diversified alternative asset management company. The Company is engaged in the provision of investment management products and services to investors globally through its wholly owned subsidiary, Lighthouse Investment Partners, LLC. It operates through two segments: Lighthouse Group and NGI Strategic Group. Lighthouse Group segment operates as a global absolute return funds manager for investment vehicles. NGI Strategic Group segment holds several strategic investments on a minority basis, including the strategic portfolio, Marble Capital and Invictus Capital investments. Lighthouse Investment Partners, LLC is a global diversified alternative asset management firm, which has three businesses: proprietary platform hedge fund business, which includes North Rock and Mission Crest; hedge fund solutions, and managed account services. It has investment portfolio comprising six minority interests in unlisted investment managers.
HFA Holdings Limited Declares Interim Dividend, Payable on March 27, 2014; Reports Consolidated Earnings Results for the Six Months Ended December 31, 2013; Announces Resignation of Kate O'donohue as Company Secretary