Full Year 2025 Mirrabooka Investments Ltd Earnings Call Transcript
Key Points
- Mirrabooka Investments Ltd (ASX:MIR) maintained a steady ordinary dividend at $6.5, which is attractive for shareholders.
- The company achieved a portfolio return of 11.4%, showcasing solid performance despite market volatility.
- Successful capital raising of $85.1 million through a 1 for 7 rights issue, indicating strong shareholder support.
- The management expense ratio decreased slightly to $0.54 per $100 invested, reflecting efficient cost management.
- Mirrabooka Investments Ltd (ASX:MIR) has a long-term investment strategy, focusing on sustainable growth and value extraction from small and mid-sized companies.
- Profit for the year decreased to $7.9 million from $10.7 million, primarily due to a fall in dividends received and auction income.
- The portfolio underperformed the benchmark, achieving 11.4% compared to the benchmark's 15.2%.
- Lack of representation in strong market sectors like gold, which impacted short-term performance.
- Some investments, such as IDP and Macquarie Technology, faced significant challenges, affecting overall returns.
- The company acknowledges missing opportunities in stocks like Prometics and Technology One, which have performed well but were not included in the portfolio.
Good afternoon and welcome to the Mirrabooka full year financial results first briefing. (Operator Instructions)
I would now like to have the presentation over to Mark Freeman, Managing Director of Mirrabooka. Please go ahead.
Well, good afternoon everyone, I'm Mark Freeman, the CEO and Managing Director of Mirrabooka Investments, and welcome to this full year result briefing. I'd like to begin by acknowledging the traditional owners and custodians from all the lands we are gathered on today and pay my respects to the elders past, present, and emerging.
Joining me today on this webinar we have Kieran Kennedy and Stuart Low who manage the portfolio; Andrew Porter, our CFO; Matthew Rowe, our Company Secretary; Jeff Driver, our General Manager of Business Development; and Suzanne Harding, who is also involved with business development.
This briefing is based on the material available on the company's website. The presentation slides will change
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