The $7.8 million net profit attributable to members was down 23.8 per cent on the previous corresponding period.
The listed investment manager said last year’s figure did, however, include $1.9 million after tax from the takeover of Hastings Diversified Utilities Fund.
Revenue from operating activities was down 4.4 per cent from the previous corresponding period to $9.5 million.
Mirrabooka managing director Ross Baker said Mirrabooka’s total portfolio return, including dividends paid, was 22.8 per cent.
“This compares with the combined small and mid-cap index benchmark which was up 16.9 per cent,” said Mr Baker.
“The five-year return for the portfolio was 16.9 per cent per annum against the benchmark return of 6.3 per cent per annum.”
According to Mirrabooka, the most significant contributors to portfolio performance over the year were iProperty Group, James Hardie, Tassal Group, Bega Cheese, Equity Trustees and REA Group.
Mr Baker said that at the end of June, Mirrabooka held $30.6 million in cash.
“We believe this provides the necessary flexibility to pursue opportunities that may arise in the new financial year in an environment which carries some heightened risk, given uncertain economic conditions remain in Australia and globally,” he said.
