Ann: FLLYR: MLN: Marlin Global achieves profit tu

• Release Date: 15/08/13 18:29
• Summary: FLLYR: MLN: Marlin Global achieves profit turnaround
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MLN
15/08/2013 16:29
FLLYR

REL: 1629 HRS Marlin Global Limited

FLLYR: MLN: Marlin Global achieves profit turnaround

Marlin Global 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/(loss) from ordinary activities 12,160  ;  N/A, (9,312)
Profit/(loss) from ordinary activities after tax attributable to security
holders. 9,487 ;  N/A, (11,975)
Net profit/(loss) attributable to security holders. 9,487  ;  N/A, (11,975)

Dividend
 Marlin Global will pay a partially imputed quarterly dividend of 1.77cps 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: $0.88

For immediate release:

15 August 2013

Marlin Global achieves profit turnaround

- Net profit $9.5m (2012, loss of $12.0m)
- Total Shareholder Return* +12.2%
- Adjusted net asset value* per share +10.6%
- 6.82cps paid in dividends

NZX-listed investment company Marlin Global Limited (NZX: MLN) today
announced a turnaround profit for the 12 months to 30 June 2013 of $9.5
million (2011/12 loss of $12.0m).

The result includes gains on financial assets of $10.5m, dividend and
interest income of $1.6m, foreign exchange gains on cash of $0.1m and
operating expenses and tax of $2.7m.

Marlin's key performance ratios show a total shareholder return (TSR)* of
12.2% and a growth in adjusted net asset value (NAV)* of 10.6%.

Since inception in November 2007, Marlin's adjusted NAV* is up 17.8%, ahead
of the MSCI Global Small Cap Gross Index which was up 13.1% during the same
period.

In accordance with the company's distribution policy (2.0% of average NAV per
quarter), a total of 6.82 cents per share was paid to Marlin shareholders
during the year ended 30 June 2013. On 15 August 2013, the Board declared a
dividend of 1.77 cents per share to be paid to shareholders on 27 September
2013 with a record date of 13 September 2013.

Marlin Global's Chairman, Alistair Ryan, said: "It has been another
challenging year for Marlin Global as the uncertainty in international equity
markets continued. Despite this uncertainty it has been encouraging to see
the company record a strong profit which was a significant turnaround from
last year's loss.

Marlin Global's Manager, Fisher Funds, commented that the difficult
investment conditions over the previous two years had caused a relatively
high level of volatility in the portfolio. "Our aim continues to be to
gradually de-risk the portfolio through lower stock or industry specific
risk, through diversification and through stock liquidity."

During the year Marlin Global sold four companies from its portfolio and
added eight new companies - Acino, De La Rue, Genomma Lab, IMI, L'Occitane,
Mills Estruturas, United Internet and Volkswagen - bringing its total number
of investments to 38.

Portfolio Manager, Roger Garrett, said: "Gradually we have been restructuring
the portfolio, exiting companies where, in our opinion, the investment thesis
was challenged or broken and reweighting where we thought the weighting in
the portfolio didn't match the strength of our views. Our focus is to invest
in quality stocks with healthy moats, strong execution capabilities, sound
structural growth prospects yet offering good value."

Mr Garrett added: "The global equity market outlook is mired by
contradictions - below trend growth but above trend equity market valuations,
rising equity markets and falling earnings expectations. However, on balance
we remain optimistic on many features of the outlook for global equities."

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 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. 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:00239739 For:MLN    Type:FLLYR      Time:2013-08-15 16:29:45