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%…