About Us

Carlton Investments Limited (CIN) is an investment company listed on the Australian Securities Exchange (ASX).

Incorporated in 1928, Carlton Investments is the holding company for three subsidiaries whose principal activities are the acquisition and long term holding of shares and units in entities listed on the ASX. Refer History.

Investments have been made to create a diversified portfolio. At 30 June 2017 the Group held an investment portfolio with a total market value of $951 million, consisting of shares and units in over 75 entities.

The Group has a significant holding in Event Hospitality & Entertainment (EVT) (formerly known as Amalgamated Holdings Limited), a group engaged in cinema exhibition (Event, Greater Union, BCC and Cinestar) in Australia, New Zealand and Germany, hotel operations and ownership (Rydges, Atura and QT),  operation of the Thredbo Alpine Resort and investment property ownership. For further information on Event Hospitality & Entertainment Limited refer http://www.evt.com.au/. This investment and other consumer discretionary sector investments represent 44.03%* of total equity investments. The next largest sector holdings is in banks (23.86%*) followed by utilities (5.18%*), the consumer staples sector (4.02%*), the diversified metals and mining sector (3.00%*), construction materials (2.51%*), capital markets (2.49%*), telecommunication services (1.96%*) and containers and packaging (1.93%*). Refer pages 30, 31 and 32 of the 2017 Annual Report for a full list of investments as at 30 June 2017.

Carlton Investments is required to release its net tangible asset (NTA) backing per ordinary share to the ASX after each month end. At the end of each quarter the Company also releases, as part of its NTA announcement, a listing of its top twenty equity investments. Refer Investments.       

Group companies also invest funds in term deposits. Refer Investments for the balance of term deposits and cash at the end of the last quarter.

The Group has no debt.
 
The investment strategy is to invest in established, well managed Australian listed entities that are anticipated to provide attractive levels of sustainable income and also long term capital growth. The Group also invests in companies that enable a high portion of income to be received as fully franked dividends.  Investments are held for the long term and are generally only disposed of through takeover, mergers or other exceptional circumstances that may arise from time to time. Group entities do not act as share traders nor do they invest in speculative stocks.

Administration costs are kept to a minimum. There are no portfolio management fees or performance fees. The management expense ratio (MER), being total administration costs as a percentage of total average investments, for the year ended 30 June 2017 was 0.08%.

The Group has an experienced Board of Directors. It is an objective of the Board to maximise shareholder return through both the payment of fully franked dividends and longer term capital growth in the value of the company’s shares whilst maintaining an investment portfolio with an acceptable level of investment risk.

*Percentages determined as at 30 June 2017
Board Members
Mr Alan G Rydge
  • Chairman of Directors since 1980. Non executive director.
  • Broad experience as a director of various listed and private entities. Formerly Deputy Chairman of Australia Post and was a director of Village Roadshow Limited.
  • Director (since 1978) and Chairman (since 1980) of Event Hospitality & Entertainment Limited (formerly known as Amalgamated Holdings Limited). Also a director of Enbeear Pty Limited, Alphoeb Pty Limited and Aygeear Pty Limited.
Mr Murray E Bleach CA, GAICD, BA(Fin), MApFin.
  • Member of the Institute of Chartered Accountants in Australia and Graduate of the Australian Institute of Company Directors
  • Independent Non Executive Director since 2014.
  • Over 30 years experience in the accounting and financial services sectors and also extensive experience in the infrastructure sector.
  • Previously CEO of Intoll Group. Other directorships include Energy Action Limited, of which he is Chairman, and IFM Investors.
Mr Anthony J Clark AM, FCA, FAICD.
  • Fellow of the Institute of Chartered Accountants in Australia and Fellow of the Australian Institute of Company Directors.
  • Independent Non Executive Director since 2000.
  • Lead independent Director.
  • Chairman of the Audit and Risk Committee and the Nominations and Remuneration Committee.
  • Broad experience as a director of listed companies and previously practiced as a Chartered Accountant retiring as a partner of KPMG in 1998.
  • Former directorships include  Ramsay Health Care Limited, Telstra Corporation Limited, Amalgamated Holdings Limited (now known as Event Hospitality & Entertainment Limited), Cumnock Coal Limited, Maritime Industry Finance Company Limited and Sphere Minerals Limited.

Net Tangible Asset Backing

per ordinary share

As at 31 October 2017:
Before capital gains tax: $37.19
After providing for estimated capital gains tax:
$30.84
 
Amounts updated every month