Balance sheet review
Group shareholders’ funds increased from $338.7 million at 30 June 2012 to $349.9 million at 30 June 2013. The increase was attributable to profit for the year of $54.6 million offset in part by dividends paid to shareholders of $32.5 million and other comprehensive expense of $10.9 million. The profit for the year ended 30 June 2013 was primarily attributable to a net profit of $19.3 million from the sale of the Group’s investment in McMoRan Exploration Co. (“MMR”) and $27.7 million of investment income from Knowledge Universe Holdings LLC (“KUH”). The other comprehensive expense for current year was mainly attributable to the sale of MMR as the value was realized and transferred to profit & loss.
Group total assets of $638.1 million at 30 June 2013 increased by $10.6 million compared to the previous year end driven ......