Ann: FLLYR: BRM: Barramundi delivers strong resul

• Release Date: 15/08/13 18:11
• Summary: FLLYR: BRM: Barramundi delivers strong result
• Price Sensitive: No
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BRM
15/08/2013 16:11
FLLYR

REL: 1611 HRS Barramundi Limited

FLLYR: BRM: Barramundi delivers strong result

Barramundi Limited
 Results for announcement to the market

Reporting Period 12 months to 30 June  2013
Previous Reporting Period 12 months to 30 June 2012

The financial statements attached to this report have been audited by
PricewaterhouseCoopers and are not subject to a qualification. A copy of the
Auditor's Report applicable to the financial statements is attached to this
announcement.

 Current period NZ$000;  Up/(Down) %,  Previous corresponding  Period NZ$000
Total net income from ordinary activities 20,982   ;  1,127% 1,710
Profit/(loss) from ordinary activities after tax attributable to security
holders. 16,772  ;  N/A, (884)
Net profit/(loss) attributable to security holders. 16,772  ;  N/A, (884)

Dividend
 Barramundi will pay a fully imputed quarterly dividend of 1.61cps as part of
its long term distribution policy.

Ex-Dividend Date 11 September 2013
Record Date 13 September 2013
Dividend Payment Date 27 September 2013

 Audited NAV per share 30 June 2013: $0.81

For immediate release:

15 August 2013

Barramundi delivers strong result

- Net profit $16.8m (2012, loss of $0.9m)
- Total Shareholder Return* +22.6%
- Adjusted net asset value* per share +19.9%
- 6.29cps paid in dividends

NZX-listed investment company Barramundi Limited (NZX: BRM) today announced a
turnaround profit for the 12 months to 30 June 2013 of $16.8m (2011/12, loss
of $0.9m).

The result includes gains on financial assets of $18.1m, dividend and
interest income of $4.0m, foreign exchange losses on cash of $1.1m and
operating expenses and tax of $4.2m.

Barramundi's key performance ratios show a total shareholder return (TSR)* of
22.6% and a growth in adjusted net asset value (NAV)* of 19.9%.

Since inception in October 2006, Barramundi's adjusted NAV* is up 16.7% ahead
of the S&P/ASX Small Ords Industrial Gross Index which was down 9.1% during
the same period.

In accordance with the company's distribution policy (2.0% of average NAV per
quarter), a total of 6.29 cents per share was paid to Barramundi shareholders
during the year ended 30 June 2013. On 15 August 2013, the Board declared a
dividend of 1.61 cents per share to be paid to shareholders on 27 September
2013 with a record date of 13 September 2013.

Barramundi's Chairman, Alistair Ryan, said: "It has been encouraging to see
the Barramundi portfolio producing improved returns for shareholders during
2012/13." Mr Ryan added that Barramundi shareholders will have been pleased
with the strong net profit result which was a substantial turnaround on the
loss for the previous year.

Portfolio Manager, Frank Jasper, said: "Whilst 2013 was a better year for
investors we enter 2014 somewhat cautiously.  The outlook, as always has
pluses and minuses. On the positive side monetary policy in Australia has
resulted in official interest rates at 50 year lows and the currency weaker
against key trading partners. Accommodative monetary policy will feed higher
growth over time. Global growth, particularly out of the United States but
slowly improving in Europe, is on the verge of a pick up which is very
positive for Australia.  Despite this we feel some caution is warranted as
the switch in economic growth away from mining investment back to the
domestic economy is going to prove challenging and presents risks."

Mr Jasper added: "We continue to focus on business quality and on companies
that can grow and chart their course regardless of the vicissitudes of the
Australian economy."

For further information please contact:

Carmel Fisher
Managing Director
Fisher Funds Management Limited
Tel: (09) 484 0342

*Adjusted NAV and total shareholder return assume all dividends are
reinvested but exclude imputation credits.

About Barramundi
Barramundi is a listed investment company that invests in growing Australian
companies. The Barramundi portfolio is managed by Fisher Funds, a specialist
fund manager with a track record of successfully investing in growth company
shares. The aim of Barramundi is to offer investors competitive returns
through capital growth and dividends, and access to a diversified portfolio
of investments through a single, tax-efficient investment vehicle. Barramundi
listed on the NZX Main Board on 26 October 2006 and may invest in companies
listed on the Australian Securities Exchange (with a primary focus on those
outside the top 20 at the time of investment) or unlisted companies.  /ends
End CA:00239737 For:BRM    Type:FLLYR      Time:2013-08-15 16:11:26