"The company is a long-term investor and does not intend disposing of its long-term investment portfolio," Argo said.
"However, under current accounting standards the company is required to provide for tax that may arise should the portfolio be disposed of on 31 December 2010.
"After deducting this theoretical provision, the [$6.28] figure would be $5.65 per share.
"These figures are subject to external review by the company's auditor."
The company's top investments at the end of December were BHP Billiton, Rio Tinto, Westpac Banking Corporation, Wesfarmers and Milton Corporation.
