Australia · Delayed Price · Currency is AUD Mirrabooka Investments Earnings Call Transcripts
Fiscal Year 2026
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Half-year profit nearly doubled year-over-year, but portfolio returns lagged the benchmark due to low resource exposure and underperforming holdings. Management remains confident in the long-term strategy and is using current market conditions to re-enter growth stocks.
Fiscal Year 2025
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Full-year profit fell to $7.9M due to lower income and fewer trading gains, with an 11.4% portfolio return underperforming the benchmark. A successful $85.1M rights issue boosted cash reserves, and management remains focused on long-term, patient capital deployment.
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A one-for-seven rights issue aims to raise AUD 85 million at a 5% discount, with shares eligible for the next dividend. The team is focused on long-term value, patient capital deployment, and maintaining portfolio flexibility amid ongoing market volatility.
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Half-year profit was steady at AUD 4.6 million, with an increased interim dividend and strong one-year portfolio return of 18.2%. The portfolio remains cautious amid high valuations and market dislocations, focusing on long-term quality investments and selective new additions.
Fiscal Year 2024
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Net profit declined to AUD 10.7 million due to lower trading gains, but options trading and realized capital gains were strong. Portfolio outperformed benchmarks across all timeframes, with notable contributions from Gentrack and other top holdings. Dividend for the year totals AUD 0.13 per share.