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Thorney Opportunities (TOP) investor relations material
Thorney Opportunities H2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
FY2026 saw a net profit after tax (NPAT) of $0.9m, down from $8.5m in FY2025, reflecting a challenging year for investment returns and a significant decrease in fair value of key unlisted holdings.
Net tangible assets (NTA) per share after tax decreased to 89.3 cents from 90.3 cents year-over-year.
The company maintained an active capital management approach, including a share buyback and increased dividends.
Financial highlights
Total investment loss for FY2026 was $0.8m, compared to a gain of $19.7m in FY2025.
Final fully franked dividend increased to 1.65 cents per share (up 6.5% from prior year); total dividends for FY2026 were 2.75 cents per share, up 3.8%.
Cash and cash equivalents at year-end were $2.9m, down from $32.8m, mainly due to operating outflows, investments, buybacks, and dividends.
NTA per share before tax was 96.4 cents, down 3.8% from FY2025.
Outlook and guidance
The board remains optimistic about future opportunities despite ongoing market volatility, inflation trends, and geopolitical risks.
Continued focus on disciplined investment, capital preservation, and long-term value creation.
- Net profit after tax jumped 223% to $35.0 million, with NTA per share up 24.4% year-over-year.TOP
H2 2024 - Record NTA per share achieved despite a sharp drop in profit and continued strong capital management.TOP
H2 2025 - Net profit after tax surged to $6.5 million, supported by robust investment performance and capital discipline.TOP
H1 2026 - Profits fell but NTA and dividends rose, with strong board support and ongoing buybacks.TOP
AGM 2025 - Active investment, record dividends, and strong shareholder support amid market challenges.TOP
AGM 2024 - Net loss of $1.07 million, NTA per share down 2.1%, and extended buy-back for 11.24m shares.TOP
H1 2025
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