Ariadne Australia Limited (AU:ARA) has released an update.
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Ariadne Australia Ltd reported a challenging fiscal year 2024, with net profit dropping to $1.6 million from the previous year’s $11.1 million, largely due to significant one-off dividends in the prior period and write-downs in unlisted investments and property assets. Despite setbacks, including a breakeven result from the Orams Group investment and a general decline in property asset values, the company noted underlying strength in its businesses and a potentially stabilizing interest rate environment in New Zealand.
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