Marlin Global (MLN) H1 2026 earnings summary

Executive summary

• Net profit after tax for the six months ended 31 December 2025 was $6.5 million, down from $8.07 million in the prior year period.

• Total comprehensive income after tax attributable to shareholders was $6.46 million, compared to $8.07 million year-over-year.

• Basic and diluted earnings per share were 2.88 cents, down from 3.72 cents in the previous year.

• Portfolio performance underperformed its equity benchmark due to sector allocation and stock-specific issues.

• Dividend of 3.77 cents per share paid during the period, with an additional 1.88 cps declared for March 2026.

Financial highlights

• Total income for the period was $9.35 million, a decrease from $11.29 million year-over-year.

• Profits on investments totaled $8.7 million, with dividend, interest, and other income of $0.6 million.

• Operating expenses totaled $1.90 million, down from $2.04 million year-over-year.

• Total shareholder return was 7.1% for the period.

• Portfolio gross performance return was +4.5% versus a benchmark return of +14.0%.

Outlook and guidance

• On 16 February 2026, a dividend of 1.88 cents per share was declared, with payment scheduled for 27 March 2026.

• A new warrant issue was approved, with one warrant for every four shares to be allotted in April 2026, exercisable in April 2027.

• Management remains optimistic about future opportunities, citing compelling valuations in quality companies.

• Portfolio positioning is expected to benefit from a shift in market sentiment toward quality stocks.