Marlin Global (MLN) H2 2024 earnings summary

Executive summary

• Achieved net profit of $37.2m for the year ended 30 June 2024, a 58% increase year-over-year.

• Adjusted NAV return was 19.5%, total shareholder return 13.8%, and gross performance return 22.9%.

• Portfolio outperformed its benchmark index, driven by strong performance in technology and healthcare sectors.

• Quarterly dividends maintained at 2% of NAV, totaling 7.59 cents per share for the year.

• Portfolio comprised 22 companies, with largest holdings in Amazon, Microsoft, Alphabet, Floor & Décor, and Meta Platforms.

Financial highlights

• Net profit after tax: $37.2m (2023: $23.6m).

• Basic earnings per share: 17.59c (2023: 11.63c).

• NAV per share: $1.03 (2023: $0.93); share price: $0.96 (2023: $0.92).

• Dividends paid: 7.59c per share (2023: 7.11c).

• Operating expenses and tax: $5.8m, up $1.7m due to higher management and performance fees.

Outlook and guidance

• Continued focus on high-quality, growth-oriented companies with long-term potential.

• Expect ongoing macroeconomic volatility to create investment opportunities.

• Board remains confident in the resilience of the portfolio and investment strategy.