Ann: HALFYR: MLN: Marlin delivers strong interim

• Release Date: 25/02/14 10:56
• Summary: HALFYR: MLN: Marlin delivers strong interim result
• Price Sensitive: No
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					MLN
25/02/2014 08:56
HALFYR

REL: 0856 HRS Marlin Global Limited

HALFYR: MLN: Marlin delivers strong interim result

Marlin Global Limited
 Results for announcement to the market
Reporting Period 6 months ended 31 December 2013
Previous Reporting Period 6 months ended 31 December 2012

The interim financial statements attached to this report have been reviewed
by PricewaterhouseCoopers and are not subject to a qualification. A copy of
the accountants' report applicable to the interim financial statements is
attached to this announcement.

 Current period NZ$000, Up/(Down) %,  Previous corresponding  Period NZ$000
Total net income from ordinary activities 14,574, 855.7%, 1,525
Profit from ordinary activities after tax attributable to security holders
12,197, 6,991.3%, 172
Net profit attributable to security holders 12,197, 6,991.3%, 172

Dividend
 Marlin Global will pay a partially imputed quarterly dividend of 1.89cps as
part of its distribution policy.

Ex-Dividend Date 12 March 2014
Record Date 14 March 2014
Dividend Payment Date 28 March 2014

Net asset value per share 31 December 2013: $0.96

For immediate release:

25 February 2014

Marlin delivers strong interim result

o Interim 2013 net profit $12.2m (interim 2012: net profit $172k)
o Total shareholder return* +19.7%
o Adjusted net asset value* per share +13.1%
o 3.58 cents per share in dividends paid during the period

NZX-listed investment company Marlin Global Limited (NZX: MLN) today
announced a net operating profit for the six month period ended 31 December
2013 of $12.2m which is up significantly on the interim 2012 net profit of
$172k.

The result includes gains on financial assets of $14.7m, dividend and
interest income of $0.4m less foreign exchange losses on cash of $0.5m and
operating expenses and tax of $2.4m.
Marlin's key performance ratios show a growth in total shareholder return* of
19.7% and an increase in adjusted net asset value (NAV)* of 13.1% versus the
MSCI World Small Cap Index which rose 12.9% in the period.

Since inception in November 2007, Marlin's adjusted NAV* is up 33.2%, ahead
of the MSCI World Small Cap Index which is up 27.7% over the same period.

In accordance with company's distribution policy (2.0% of average NAV per
quarter), a total of 3.58 cents per share was paid to Marlin shareholders
during the six months ended 31 December 2013. The Board has declared a
dividend of 1.89 cents per share to be paid to shareholders on 28 March 2014
with a record date of 14 March 2014.

A new Investment Analyst is being recruited to join Roger Garrett and Ashley
Gardyne in continuing to actively manage the Marlin portfolio as Senior
Investment Analyst, Manuel Greenland, has accepted an opportunity to manage
the portfolio of Marlin's sister company, Barramundi.

Marlin's Chairman, Alistair Ryan, said: "The half year ended 31 December 2013
was a strong period for the Marlin portfolio, continuing to build upon the
turnaround performance achieved in the previous 18 months."

Portfolio Manager, Roger Garrett, said: "Many of the portfolio stocks
continue to deliver solid operational performance, supported by a gradually
improving economic backdrop and in most instances sound execution of their
business strategies."

Mr Garrett added: "Our strategy is to deliver a core portfolio of high
quality companies that are market leaders, generate strong cash flows, high
returns and exhibit strong capital allocation credentials. We continue to
search for companies that meet these criteria while maintaining a discipline
of not overpaying for companies and a preference for liquid stocks."

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:00247436 For:MLN    Type:HALFYR     Time:2014-02-25 08:56:26