Ann: FLLYR: MLN: Marlin Global enjoys third year of positive returns

• Release Date: 18/08/15 16:19
• Summary: FLLYR: MLN: Marlin Global enjoys third year of positive returns
• Price Sensitive: No
• Download Document  5.28KB

					MLN
18/08/2015 16:19
FLLYR
PRICE SENSITIVE
REL: 1619 HRS Marlin Global Limited

FLLYR: MLN: Marlin Global enjoys third year of positive returns

Marlin Global Limited
Results for announcement to the market
Reporting period 12 months to 30 June 2015
Previous reporting period 12 months to 30 June 2014

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.

Reporting period NZ$000; up/(down)% Previous reporting period NZ$000
Total net income / (loss) from ordinary activities 18,496; 26%, 14,665;
Profit from ordinary activities after tax attributable to security holders
14,675; 32%,  11,120;
Net profit attributable to security holders 14,675; 32%, 11,120;

Dividend Marlin will pay a partially imputed quarterly dividend of 1.94cps as
part of its distribution policy
Ex-dividend date 9 September 2015
Record date 11 September 2015
Dividend payment date 25 September 2015

Net asset value per share 30 June 2015: $0.97

For immediate release:

18 August 2015

Marlin Global enjoys third year of positive returns

o Net profit $14.7m (2014, profit of $11.1m)
o Adjusted net asset value* per share +15.0%
o Total shareholder return* +14.6%
o 7.35cps paid in dividends

Marlin shareholders enjoyed a third successive year of double digit returns,
but the portfolio lagged the very strong growth in international markets.

NZX-listed investment company Marlin Global Limited (NZX: MLN) today
announced a net profit for the 12 months to 30 June 2015 of $14.7 million,
following last year's profit of $11.1 million.

The Marlin portfolio increased by 15.0% after adjusting for 7.35 cents per
share paid in dividends, while the World Small Cap Gross Index was up 31.6%.

The result includes gains on investments and foreign exchange of $16.2m,
dividend and interest income of $1.1m, foreign exchange gains on cash of
$1.2m less operating expenses (including management and performance fees) and
tax of $3.8m.

Since Marlin's inception in November 2007, adjusted net asset value (NAV)*,
which reflects the underlying performance of the Marlin portfolio, has
increased 51.5%, behind the World Small Cap Gross Index which is up 67.5%
over the same period.

Marlin's total shareholder return (TSR)* was 14.6% for the year ended 30 June
2015 and is up 44.0% since inception.

In accordance with Marlin's distribution policy (2.0% of average NAV per
quarter), the company paid a total of 7.35 cents per share to shareholders
during the year ended 30 June 2015. In August, the Board declared a dividend
of 1.94 cents per share to be paid to shareholders on 25 September 2015 with
a record date of 11 September 2015.

In June the Marlin Board announced it would undertake a pro-rata warrant
issue as part of its capital management programme, to put Marlin in a better
position to grow, improve liquidity and operate efficiently. One warrant was
issued for every four Marlin shares held on 13 July 2015. The warrants give
holders the right to purchase additional Marlin shares in August 2016 at an
Exercise Price of $0.88 adjusted down for dividends declared after issue date
and prior to August 2016.

Chairman Alistair Ryan said: "The Board is pleased to report a third
successive year of strong profits for Marlin shareholders. We are confident
that the portfolio is well positioned for the future."

Marlin's Manager, Fisher Funds said: "Global equity markets entered their
sixth year of recovery in the 2015 financial year making this the third
longest equity market rally in history. Equity returns in local currency
terms were solid across most developed markets."

Fisher Funds added: "Portfolio activity during the year primarily focused on
reinforcing the high quality and sound long-term growth characteristics of
the portfolio. As new ideas present themselves we have looked to fund these
by exiting companies where the investment thesis is less compelling."

Changes to the portfolio included the addition of Expedia, Blackhawk, LKQ,
Adidas, Alibaba, Mastercard and Nike, while China Automation Group, O2 Micro,
Nokian, De La Rue, Tom Tailor, Hyflux, L'Occitane, Hibbett Sports, Hanger and
Mills were realised. The total number of investments at 30 June 2015 stood at
31 stocks.

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:00268621 For:MLN    Type:FLLYR      Time:2015-08-18 16:19:16