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Highlights
- Last month, Marlin Global declared its annual results and delivered a strong performance.
- The total dividend of 8.84 cps was declared through the year.
- The Company’s STEEPP initiative helped in achieving good results.
Marlin Global Limited (NZX:MLN) gained from a solid international share market recovery, wherein a majority of its portfolio investments have given robust returns.
Offering investments in different upcoming international ventures, Marlin Global is known for managing a diverse portfolio in various parts of New Zealand and Australia.
The Company provided its annual report for the period till 30 June 2021, which was released last month.
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Financial results
During the full-year period, the NPAT was NZ$69.2 million, while the gross performance return was +46.7%. The Adjusted NAV return was recorded at +40.3%, while the total shareholder return for the duration was +88.5%, respectively.
Dividend
The total dividend paid in the year was 8.84cps for the duration till 30 June 2021, as a sum of all the interim dividends offered by the Company through the year, the latest one being of 2.37cps offered on 25 June 2021.
In Chairman’s words
Chairman Alistair Ryan proudly said that the Company had delivered another strong yearly performance. The previous year saw highs and lows in the market, owing to dwindling uncertainties brought about by the COVID-19 pandemic.
The rollout of the vaccine across different parts of the world, amongst other reasons, helped in the recovery of global markets.
Different portfolio investments made by the country in the process have shown positive growth while the Company also continued its STEEPP process focus, which brought about a lot of analysis and discipline in function, which has made a lot of difference in the performance of the Company in general.
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Topline and expenditure
The net profit result derived in 2021 included NZ$77.3 million gains on investment, the interest and dividend plus other incomes of NZ$0.8 million, subtracting the tax and operating expense of NZ$6.0 million, besides a capped NZ$2.9 million performance fee.
It was further seen that the tax and operating expenses were NZ$4.5 million higher than pcp. This was majorly due to increases witnessed in the performance fee and the tax expenses. The FY21 increased tax was a result of the hedging gains made through extra foreign exchange gains for the year.
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Upcoming event
In a separate announcement, it was said that the Annual Meeting of the Company should be held virtually on 8 November 2021 due to COVID-19-related uncertainties.
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On 24 September 2021, the Company traded at NZ$1.540, up by 1.32% at the time of writing.
Bottom Line
The Company has witnessed a good year in business, and this has been a result of several factors such as the vaccine rollout, international economic recovery and the focused efforts made by it through the STEEPP process.