VM Investments has reported a significant surge in profits for the 2024 financial year, with net profit attributable to shareholders rising to $555.72 million, or 37 cents per share.
This is a 179% increase from $198.84 million, or 13 cents per share in 2023.
The company's robust performance was driven in part by a sharp 216 per cent growth in Net Interest Income, which jumped from $47.82 million in 2023 to $151.4 million in 2024.
Total assets also increased by 3.21%, reflecting steady expansion in the company's investment base.
In a significant milestone, VMIL also resumed dividend payments in 2024 after a pandemic-related pause.
The company paid out $127.50 million in two interim dividends during the year, representing a dividend payout ratio of 22.9%.
VMIL says it remains focused on disciplined growth and operational efficiency as it positions itself for continued success in 2025 and beyond.
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