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 Half Year Results, released 21 January 2026

The reporting period is the half year ended 31 December 2025, with the prior corresponding period being the half year ended 31 December 2024.

• Profit after tax was $147.0 million, down 4.6% on the previous corresponding period’s $154.2 million.

-Profit after tax attributable to members was $146.9 million (down 4.7% on the previous corresponding period’s $154.2 million).

• Revenue from operating activities was $168.7 million, down $4.8 million or 2.8% from the previous corresponding period. This excludes capital gains on investments.

-Investment income for the six months to 31 December 2025 was $160.6 million, down from $166.3 million in the corresponding period last year.

-Net tangible assets per share before any provision for deferred tax on the unrealised gains on the long term investment portfolio as at 31 December 2025 were $7.90, down from $8.24 at 31 December 2024 (both before allowing for any announced dividends).