Barramundi Limited Analysis

Overview

Barramundi is a listed investment company that invests in growing Australian companies. The Barramundi portfolio is managed by Fisher Funds, a specialist investment manager with a track record of successfully investing in growth company shares. The aim of Barramundi 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. Barramundi listed on the NZX Main Board on 26 October 2006 and may invest in companies that are listed on the Australian Securities Exchange (with a primary focus on those outside the top 20 at the time of investment) or unlisted companies.

Performance

The following information was extracted from Barramundi's full year results, released on 19 August 2024:

Barramundi delivers $28.1m net profit

Highlights

• Net profit after tax for the year ended 30 June 2024 $28.1m
• Total Shareholder return* + 7.1%
• Adjusted NAV return ** +14.5%
• Dividend return*** + 8.2%

Barramundi Limited (NZX: BRM) today announced a net profit for the 12 months to 30 June 2024 of $28.1m.

Key elements of the FY24 result include profit on investments of $28.9m, dividend, interest and other income of $4.3m, less operating expenses, fees and tax of $5.0m.

Barramundi’s portfolio has performed reasonably well. The portfolio’s Adjusted net asset value return** of 14.5% (17.4% gross performance return****), was above the benchmark index’s return***** for the year of 12.8%.

Chair Andy Coupe said “Barramundi has performed well in what has been a generally good year for global share markets. The majority of the companies within Barramundi are delivering solid earnings and the board remains confident in the investment strategy and the medium to long-term resilience of the portfolio.”

Senior Portfolio Manager Robbie Urquhart added “We were pleased with Barramundi’s performance in a year in which equities benefitted from a more stable interest rate environment coupled with resilient global economic growth. For a second year running, Barramundi’s positive performance was driven by our online classified advertising and information technology related portfolio companies. The high quality of these companies was evident in their earnings growth which was supported by a combination of price increases, increased customer demand for their services, good cost control and cash flow generation. We were also pleased with the overall result given the year was also characterised by a wide dispersion of share price returns across the market. This provided us with a number of investment opportunities which we sought to take advantage of. We think this will stand Barramundi shareholders in good stead in the future.”