Mirrabooka H1 profit down 9%

Company News

Mirrabooka Investments Limited (ASX:MIR) has reported a 9 per cent drop in its half year profit.

The listed investment company generated a profit of $6.3 million and says the result was largely impacted by movements in valuations of Hastings Diversified Utilities Fund which it has invested in.

Revenues from operating activity was 7.7 per cent down.

Looking ahead, Mirrabooka says it has $24 million in cash available as it moves into the second half of the year. The company has declared an interim dividend at 3.5 cents fully franked.