Level 36, 25 Martin Place
Sydney NSW 2000 AUSTRALIA
only | General: | +61 2 9235 4887 |
Facsimile: +61 2 9235 4800 | ||
Website: | www.mffcapital.com.au | |
ABN: | 32 121 977 884 | |
27 July 2022 | ||
Company Announcements Office | ||
Australian Securities Exchange Limited | ||
Level 4, Exchange Centre | ||
20 Bridge Street | ||
Sydney NSW 2000 | ||
use | ||
ANNUAL REPORT | ||
FOR THE YEAR ENDED 30 JUNE 2022 | ||
MFF Capital Investments Limited ("MFF") hereby lodges the following documents relating to the year ended 30 June 2022: | ||
personalFor |
• Appendix 4E; and
• Annual Report incorporating the Chairman's Letter, Portfolio Manager's Report and Annual Financial Report.
Y urs sincerely,
Authorised by
Marcia Venegas | Company Secretary
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Appendix 4E
MFF Capital Investments Limited
ABN 32 121 977 884
Annual Report
Results for Announcement to the Market for the year ended 30 June 2022
30 Jun 2022 | 30 Jun 2021 | ||||||
$'000 | $'000 | ||||||
T tal Net Investment Income/(Loss) | Down by | 174% | to | (235,689) | 317,892 | ||
Net Profit/(Loss) After Income Tax Expense | Down by | 179% | to | (170,779) | 217,525 | ||
only | |||||||
30 Jun 2022 | 30 Jun 2021 | ||||||
$'000 | $'000 | ||||||
N t Assets | Down by | 11% | to | 1,424,936 | 1,593,562 | ||
Net Tangible Assets ("NTA") Per Ordinary Share | |||||||
use | 30 Jun 2022 | 30 Jun 2021 | |||||
$2.744 | $3.279 | ||||||
Pre-tax NTA per ordinary share | |||||||
Net tax (liability) / asset per ordinary share | ($0.306) | ($0.474) | |||||
Post-tax NTA per ordinary share | $2.438 | $2.805 | |||||
Dividends | |||||||
personal | |||||||
Brief explanation of results: |
Final dividend
Interim dividend (paid 13 May 2022)
Final dividend dates:
Ex-dividend date:
Record date:
DRP election date:
Payment date:
The Dividend Reinvestment Plan ("DRP") will operate in respect of the final dividend and no discount will be applied.
The Company recorded a pre-tax loss of $244,061,000 (June 2021: pre-tax profit $310,704,000) and a net loss after income tax of For$170,779,000 (June 2021: $217,525,000 profit) for the period ended 30 June 2022. Basic earnings/(Loss) per share were (29.57)
cents (June 2021: 38.92 cents). The loss reflects the negative movements in the market value of the Company's investments in the second half of the period.
The Company reported pre-tax net tangible assets ("NTA") of $2.744 per ordinary share (before net tax liabilities of $0.306 per ordinary share) as at 30 June 2022 compared with $3.279 per ordinary share (before net tax liabilities of $0.474 per ordinary share) as at 30 June 2021. The Company also reported a post-tax NTA of $2.438 per ordinary share as at 30 June 2022 compared with $2.805 per ordinary share as at 30 June 2021.
On 27 July 2022, the Directors declared an increased fully franked final dividend, for the period ended 30 June 2022, of 4.0 cents per ordinary share (June 2021: fully franked final dividend of 3.5 cents per ordinary share), which will be paid on 4 November 2022. The Directors also reiterated their intention to increase the rate of the six monthly dividend from the current rate of 4.0 cents per ordinary share to 4.5 cents per ordinary share for the 2023 interim dividend and to 5.0 cents per ordinary share thereafter, subject to corporate, legal and regulatory considerations, with continued operation of the DRP (at zero discount).
Further details on the results are included in the Annual Report.
Page 2
Appendix 4E
Financial Report
This report is based on the 30 June 2022 Annual Report which has been audited by Ernst & Young.
For personal use only
Page 3
onlyuse personalForMFF Capital Investments Limited
Annual Report
For the year ended 30 June 2022
ABN 32 121 977 884
Contents
Chairman's Letter
Directors' Report
only | ||
Auditor's Independence Declaration | ||
Portfolio Manager's Report | ||
Financial Statements | ||
Statement of Profit or Loss and Comprehensive Income | ||
Statement of Financial Position | ||
Statement of Changes in Equity | ||
Statement of Cash Flows | ||
Notes to the Financial Statements | ||
use | 1. | Basis of Preparation |
2. | Dividends | |
personal | 3. | Income Tax |
4. | Cash and Cash Equivalents, and Net Interest Bearing Borrowings | |
5. | Receivables | |
6. | Investments and Derivatives | |
7. | Payables | |
8. | Contributed Equity | |
9. | Earnings per Share | |
10. | Auditor's Remuneration | |
11. | Capital and Financial Risk Management | |
12. | Related Parties | |
13. | Research and Services Fees | |
14. | Net Tangible Assets per Ordinary Share | |
15. | Contingent Assets, Contingent Liabilities and Commitments | |
16. | Segment Information | |
For | 17. | Subsequent Events |
Directors' Declaration
Independent Auditor's Report
Share and Option Holder Information
Corporate Information
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MFF Capital Investments Ltd. published this content on 27 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 05:41:04 UTC.