Business
Why the Argo Investments (ASX:ARG) share price is pushing higher today
In morning trade the Argo Investments Limited (ASX: ARG) share price is pushing higher despite the release of a disappointing half year result.
At the time of writing, the investment company’s shares are up almost 1% to $8.79.
How did Argo perform in the first half?
It was a difficult six months for Argo, with management noting that the COVID-19 pandemic led to many Australian companies maintaining a cautious approach to declaring dividends.
According to the release, numerous companies in its investment portfolio substantially cut or cancelled their dividend payouts, which significantly impacted Argo’s half year profit.
For the six months ended 31 December, Argo reported a profit of $67.4 million. This was down a sizeable 43.3%…
-
Noosa News20 hours agoDriver arrested after life-threatening hit-and-run on outskirts of Ipswich, Queensland
-
Business22 hours agoThis ASX 200 mining stock is eyeing the lithium throne
-
Noosa News22 hours ago150 jobs in doubt as Bega winds down peanut processing plants in Queensland
-
Business20 hours agoThe best ASX shares to buy and forget for 10+ years