Mirrabooka Investments Limited (ASX:MIR) Reports Strong Half-Year Results
Financial Overview
Mirrabooka Investments Limited reported an impressive portfolio return of 11.5% for the half-year ended 31 December 2024, outperforming the combined Small Ordinaries and Mid Cap 50 benchmark, which returned 7.5% in the same period. The profit for the half year was consistent at $4.6 million, matching the previous year’s figure, while revenue from operating activities decreased by 5.8% to $6.2 million.
Dividend Declaration
The Board declared an interim fully franked dividend of 4.5 cents per share, up from 4.0 cents the previous year, reflecting a 12.5% increase. Shareholders will receive this dividend on 18 February 2025, with the ex-dividend date set for 24 January 2025. The dividend is fully sourced from capital gains, with a pre-tax attributable gain of 6.43 cents per share.
Portfolio Performance and Outlook
The portfolio showcased strong performance driven by key holdings such as Gentrack Group and Temple & Webster Group. Mirrabooka achieved a 12-month portfolio return of 18.2%, significantly exceeding the benchmark’s 11.1%. Although investment activity is subdued due to high market valuations, the company maintains a cautious outlook, holding approximately 3% of the portfolio in cash for potential opportunities.
CEO R. Mark Freeman expressed confidence in the long-term prospects of their chosen investments.
Subsequent Webcast Information
Mirrabooka will host a webcast for shareholders on 21 January 2025 at 3.30 pm AEDT to discuss these results in further detail, with information available on their website.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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