Full Year 2024 Mirrabooka Investments Ltd Earnings Call Transcript
Key Points
- Mirrabooka Investments Ltd (ASX:MIR) achieved a profit of $10.7 million, despite a slight decrease from the previous year.
- The company declared a normal dividend of $0.065 and a special dividend of $0.025, totaling $0.13 for the year.
- Management expense ratio (MER) decreased to 0.56% from 0.59%, indicating improved cost efficiency.
- The company generated nearly $2.5 million from options trading, an unprecedented contribution.
- Mirrabooka Investments Ltd (ASX:MIR) has consistently outperformed benchmarks over 1, 3, 5, and 10-year timeframes.
- Profit for the year decreased from $11.3 million to $10.7 million.
- The trading portfolio did not perform as strongly as the previous year, impacting overall profit.
- The company had to trim positions in some of its top holdings due to high valuations, which could affect future growth.
- The share price of IGO, a new addition to the portfolio, halved since purchase, indicating potential misjudgment in timing.
- Mirrabooka Investments Ltd (ASX:MIR) is trading at a small discount, which is common in the LIC market but still a concern.
Good afternoon and welcome to the Mirrabooka full year financial results briefing. (Operator Instructions)
I would now like to hand the presentation over to Mr. Mark Freeman, Managing Director of Mirrabooka. Thank you. 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 their elders both past present and emerging.
On the call today, we have Kieran Kennedy, who is the Portfolio Manager in Mirrabooka; Andrew Porter, our CFO, Matthew Rowe, our Company Secretary, and Geoff Driver, our General Manager of Business Development.
Before we start the presentation, just a bit of housekeeping on this webinar. This briefing is based on the material available on the company's website. If you are using your computer to access the
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