Australian Foundation Investment Company (AFI)•HY26•Released 21 January 2026AFIC NPAT down 4.7% as tax rate jumps, cash halved to A$131.6mPre-tax profit was nearly flat at A$162.4m, but a higher effective tax rate and lower investee dividends drove NPAT lower while cash balances fell...Published 22 April 2026Read briefing→
Australian Foundation Investment Company (AFI)•HY25•Released 22 January 2025AFI HY25: NPAT up 2.8% on a 4.2% revenue lift, cash pile swells to A$294mModest portfolio-income growth and an unchanged A$10m debt stack leave AFI more net-cash, but cash conversion eased versus the prior half.Published 22 April 2026Read briefing→
Australian Foundation Investment Company (AFI)•FY24•Released 29 July 2024AFI NPAT down 4.4% while operating cash fell a steeper 8.9%Portfolio value lifted total assets 10.7% but dividend income softened and cash conversion deteriorated versus FY23.Published 22 April 2026Read briefing→
Australian Foundation Investment Company (AFI)•HY24•Released 24 January 2024NPAT fell 8.2% as a higher tax charge compounded a 6.9% revenue declineInvestment income softened and cash conversion weakened, yet the interim dividend was lifted to a payout ratio of 95.4% of earnings.Published 22 April 2026Read briefing→
Australian Foundation Investment Company (AFI)•FY23•Released 26 July 2023AFI FY23: headline NPAT down 14% but underlying earnings up 8.6% ex BHP specialPortfolio income and operating cash both grew once the prior-year BHP merger dividend is stripped out, while the statutory comparison masks that...Published 22 April 2026Read briefing→
Australian Foundation Investment Company (AFI)•HY23•Released 23 January 2023AFI income up 12.6% while portfolio equity drops 7.8% from FY22Dividend income and operating cash grew double digits, but the investment portfolio's mark-to-market erosion reshaped the balance sheet.Published 22 April 2026Read briefing→
Australian Foundation Investment Company (AFI)•FY22•Released 25 July 2022AFI FY22: NPAT up 53.4% on dividend recovery as portfolio equity fell $568.5mA full-year income rebound sits against a 9.3% decline in total assets, underlining that reported profit and portfolio value moved in opposite...Published 22 April 2026Read briefing→
Australian Foundation Investment Company (AFI)•HY22•Released 24 January 2022AFI investment income rebounds 68%, lifting PBT 71.6% as payout cover is...Dividends and distributions recovered sharply from the COVID-era trough, but the 10c interim is unchanged and leverage edged up from a deep net...Published 22 April 2026Read briefing→
Australian Foundation Investment Company (AFI)•FY21•Released 26 July 2021AFI FY21: NPAT held at -2.2% but operating cash flow slid 29.8%Portfolio-driven equity rose 21.1% to $7.56bn and the 14cps final was held flat, but dividend income and cash receipts both weakened materially.Published 22 April 2026Read briefing→