Mirrabooka Investments (ASX:MIR) preliminary results have shown a fall in its annual net profit but a rise in total portfolio return.
The listed investment company’s net profit dropped almost 24 per cent to $7.8 million in the 2014 financial year.
The result was impacted by last year’s figure including $1.9 million after tax from the takeover of Hastings Diversified Utilities Fund.
Over the year total portfolio return was 22.8 per cent compared to the combined small and midcap market index benchmark which was up 16.9 per cent.
A fully franked final dividend of 6.5 cents per share has been declared in addition to a special dividend of 10 cent per share.
Mirrabooka Investments has advised it has $30.6 million in cash at the end of fiscal 2014, providing flexibility to pursue opportunities that arise in fiscal 2015.
Mirrabooka Investments reported a net profit of $4.4 million in the first half of the 2014 financial year.
