Ann: FLLYR: MLN: A strong year for Marlin Global

• Release Date: 25/08/14 16:15
• Summary: FLLYR: MLN: A strong year for Marlin Global
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					MLN
25/08/2014 16:15
FLLYR

REL: 1615 HRS Marlin Global Limited

FLLYR: MLN: A strong year for Marlin Global

Marlin Global Limited
 Results for announcement to the market

Reporting Period 12 months to 30 June  2014
Previous Reporting Period 12 months to 30 June 2013

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/(loss) from ordinary activities 14,665 ; 20% ; 12,160
Profit/(loss) from ordinary activities after tax attributable to security
holders. 11,120 ; 17% ; 9,487
Net profit/(loss) attributable to security holders. 11,120 ; 17% ; 9,487

Dividend
 Marlin Global will pay a partially imputed quarterly dividend of 1.84 cps as
part of its distribution policy.

Ex-Dividend Date 10 September 2014
Record Date 12 September 2014
Dividend Payment Date 26 September 2014

Audited net asset value per share 30 June 2014: $0.91

For immediate release:

25 August 2014

A strong year for Marlin Global

- Net profit $11.1m (2013, profit of $9.5m)
- Adjusted net asset value* per share +11.9%
- Total shareholder return* +28.5%
- 7.36cps paid in dividends

NZX-listed investment company Marlin Global Limited (NZX: MLN) today
announced a net profit for the 12 months to 30 June 2014 of $11.1 million
following last year's profit of $9.5 million. This result reflects strong
performance by portfolio companies against a positive international share
market backdrop (MSCI World Small Cap Gross Index up 12.6%).

The result includes gains on financial assets of $14.2m, dividend and
interest income of $1.5m, less foreign exchange losses on cash of $1.0m and
operating expenses (including management and performance fees) and tax of
$3.6m.

Adjusted net asset value (NAV)* per share increased 11.9% for the year ended
30 June 2014. Since Marlin's inception in November 2007, adjusted NAV*, which
reflects the underlying performance of the Marlin portfolio, has increased
31.7%, ahead of the MSCI World Small Cap Gross Index which is up 27.3% over
the same period.

Marlin's total shareholder return (TSR)* was 28.5% for the year ended 30 June
2014 and is up 25.6% since inception.

In accordance with Marlin's distribution policy (2.0% of average NAV per
quarter), the company paid a total of 7.36 cents per share to shareholders
during the year ended 30 June 2014. In August, the Board declared a dividend
of 1.84 cents per share to be paid to shareholders on 26 September 2014 with
a record date of 12 September 2014.

In accordance with the Management Agreement, and in addition to the normal
management fee, Marlin's Manager, Fisher Funds, earned a performance fee of
$842,890 (including GST) for achieving a return for the year in excess of the
Bank Bill Index plus 5% and above the High Water Mark (the highest NAV at the
end of the previous financial year in which a performance fee was paid,
adjusted for changes in capital).

Chairman Alistair Ryan said: "The 2013/14 financial year has been another
good year for Marlin with the portfolio producing pleasing returns for
shareholders."

Portfolio Manager Roger Garrett said: "Our focus on investing in high quality
growth stocks with sustainable competitive advantages and strong track
records has delivered healthy returns for Marlin shareholders in this
financial year. We will continue to refresh the portfolio with an emphasis on
quality while maintaining a keen valuation discipline."
Changes to the portfolio included the addition of Coloplast, eBay, Google,
Harley Davidson, Hibbett Sports, Plantronics, Sirona Dental Systems, United
Parcel Service and Varian Medical Systems while Asahi, Acino, Autodesk,
Dolby, Equinix, Integrated Waste Solutions, Ports Design, PSI, Qiagen,
Travelsky and Valid were realised. The total number of investments at 30 June
2014 stood at 35 stocks.

Mr Garrett added: "The bulk of sharemarket returns over the last two years
have come from equity valuations moving higher. The challenge now is for
companies to deliver robust earnings growth in order to sustain or even
increase these valuations. We believe the Marlin portfolio reflects a core
group of companies with sound earnings growth prospects."

For further information please contact:

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

About Marlin Global
Marlin Global is a listed investment company that invests in growing
companies based outside of New Zealand and Australia. The Marlin portfolio is
managed by Fisher Funds, a specialist investment manager with a track record
of successfully investing in growth company shares. Fisher Funds and its
related entities currently have over $5 billion of funds under management.
The aim of Marlin 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. Marlin listed on the NZX
Main Board on 1 November 2007 and may invest in companies that are listed on
any approved stock exchange (excluding New Zealand or Australia) or unlisted
international companies not incorporated in New Zealand or Australia.
/ends
End CA:00254348 For:MLN    Type:FLLYR      Time:2014-08-25 16:15:32