Annual Report 2017

Contents

2 Directors' Report

  1. 5 Year Summary

  2. About the Company 4 Review of Operations

and Activities

  1. Top 20 Investments

  2. Board and Management

14 Remuneration Report

  1. Non-audit Services

  2. Auditor's Independence Declaration

19 Financial Statements

  1. Income Statement

  2. Statement of Comprehensive Income

  3. Balance Sheet

  4. Statement of Changes in Equity

  5. Cash Flow Statement

25 Notes to the Financial Statements

25 A. Understanding Djerriwarrh's Financial Performance

29 B. Costs, Tax and Risk

35 C. Unrecognised Items

36 Additional Information

36 D. Balance Sheet Reconciliations

39 E. Income Statement Reconciliations

41 F. Other Information

  1. Directors' Declaration

  2. Independent Audit Report

49 Other Information

  1. Information About Shareholders

  2. Substantial Shareholders

  1. Transactions in Securities

  2. Holdings of Securities

  1. Major Transactions in the Investment Portfolio

  2. Major Transactions in the Trading Portfolio

  1. Sub-underwriting

  2. Issues of Securities

  3. Company Particulars

  4. Shareholder Meetings

Djerriwarrh Investments Limited ABN 38 006 862 693 Year in Summary

Djerriwarrh Investments Limited is a listed investment company (LIC) investing

in a diversified portfolio of Australian and

New Zealand equities. For stocks where there is an options market, the Company often uses

Profit for the Year

$33.7m

Down 17.3% from 2016

Net Operating Result

$33.8m

Down 19.8% from 2016

Fully Franked Dividend

exchange traded and over-the-counter options to enhance the income

10¢

Final

20¢

Total

return to investors.

Down 4 cents from 2016

Total Portfolio Return

16.6%

Including franking*

S&P/ASX 200 Accumulation Index

+15.7% including franking*

Total Shareholder Return

-3.8%

Share price plus dividend

Management Expense Ratio

0.46%

0.46% in 2016

Total Portfolio

$752.3m

Including cash at 30 June

$749.8 million in 2016

* Assumes a shareholder can take full advantage of the franking credits.

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Djerriwarrh Investments Limited Annual Report 2017 DIRECTORS' REPORT 5 Year Summary 37.7 42.9 46.9 40.7

33.7

Net Profit After Tax ($ Million)

2013

2014

2015

2016

2017

Dividends Per Share (Cents)(b)

35.1 42.4 45.5 42.2

33.8

Net Operating Result After Tax ($ Million)

26.0 26.0 26.0 24.0

20.0

350

2013

376

2014

352

2015

309

2016

324

2017

Net Asset Backing Per Share (Cents)(c)

765.0 871.4 821.3 748.9

743.9

Investments at Market Value ($ Million)(a)

19,005

2013

19,035

2014

18,990

2015

18,934

2016

18,490

2017

Number of Shareholders (30 June)

2013

2014

2015

2016

2017

2013

2014

2015

2016

2017

2013

2014

2015

2016

2017

Notes

  1. Excludes cash.

  2. All dividends were fully franked. For 2017 the dividend carried attributable LIC gain of 7.14 cents per share. For 2016 it was also 7.14 cents per share, for 2015 and 2014 it was 10.0 cents per share. For 2013 it was 14.3 cents per share.

  3. Net asset backing per share based on year-end data before the provision for the final dividend. The figures do not include a provision for capital gains tax that would apply if all securities held as non-current investments had been sold at balance date as Directors do not intend to dispose of the portfolio.

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Djerriwarrh Investments Limited Annual Report 2017

Djerriwarrh Investments Limited published this content on 25 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 August 2017 07:27:11 UTC.

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