Key facts about Mirrabooka Investments Limited's FY24 report

Mirrabooka Investments Limited (ASX: $MIR) has reported a slight decrease in net profit for the year ended 30 June 2024. The net profit attributable to members was $10.7 million, down 5.1% from the previous corresponding period. The company's net profit per share also decreased to 5.56 cents from 5.92 cents per share in the previous corresponding period. However, revenue from operating activities increased by 3.2% to $12.1 million. Mirrabooka Investments has maintained its final dividend at 6.5 cents per share fully franked, and has declared a special dividend of 2.5 cents per share, also fully franked, to be paid on 16 August 2024.

Executive commentary on portfolio performance and outlook

Mirrabooka Investments has delivered another year of portfolio outperformance, with a 12.4% per annum return over its 25-year history. The company's portfolio return, including franking, was 17.4% for the 12 months to 30 June 2024, outperforming the combined S&P/ASX Mid Cap 50 and Small Ordinaries Accumulation benchmark return of 8.7%. The strong performance was driven by valuable contributions from core portfolio holdings, including Gentrack, Macquarie Technology Group, Temple & Webster, Netwealth, ARB Corporation, and HUB 24. Looking ahead, the company remains cautious about the broader share market backdrop due to elevated valuations of quality businesses, but continues to hunt for value-adding investment opportunities.

Summary of Mirrabooka Investments' FY24 report and outlook

Mirrabooka Investments Limited (ASX: $MIR) has reported a slight decrease in net profit for the year ended 30 June 2024, with net profit attributable to members at $10.7 million, down 5.1% from the previous corresponding period. Despite this, the company's portfolio has outperformed benchmarks, delivering a 12.4% per annum return over its 25-year history. The portfolio return, including franking, was 17.4% for the 12 months to 30 June 2024, driven by strong contributions from core holdings. Mirrabooka Investments remains cautious about the broader share market backdrop due to elevated valuations of quality businesses, but continues to seek value-adding investment opportunities. The company has maintained its final dividend at 6.5 cents per share fully franked and declared a special dividend of 2.5 cents per share, also fully franked, to be paid on 16 August 2024.