25 August 2016

The Manager

ASX Market Announcements Australian Securities Exchange Exchange Centre

Level 4

20 Bridge Street

Sydney NSW 2000

Electronic Lodgement

Djerriwarrh Investments Limited

Statutory Annual Report, Annual Shareholder Review, Notice of Meeting and Proxy Form

Dear Sir / Madam

Please find attached the 2016 Statutory Annual Report, Annual Shareholder Review, Notice of Meeting and Proxy Form being sent to shareholders.

Yours faithfully

Matthew Rowe Company Secretary

Annual Report 2016

CONTENTS

1 Directors' Report

  1. 5 Year Summary

  2. About the Company

  3. Review of Operations and Activities

  1. Top 20 Investments

  2. Board and Management

13 Remuneration Report

  1. Non-audit Services

  2. Auditor's Independence Declaration

19 Financial Statements

The investment goals of Djerriwarrh are:

To provide attractive total returns including capital growth over the medium to long term.

To pay an enhanced level of dividends.

YEAR IN SUMMARY

  1. Income Statement

    PROFIT FOR THE YEAR

    TOTAL SHAREHOLDER RETURN

  2. Statement of Comprehensive Income

  3. Balance Sheet

  4. Statement of Changes in Equity

  5. Cash Flow Statement

24 Notes to the Financial Statements

24 A. Understanding Djerriwarrh's Financial Performance

27 B. Costs, Tax and Risk

32 C. Unrecognised Items

33 Additional Information

33 D. Balance Sheet Reconciliations

  1. E. Income Statement Reconciliations

  2. F. Other Information

  1. Directors' Declaration

    $40.7m

    Down 13.2% from 2015

    NET OPERATING RESULT

    $42.2m

    Down 7.3% from 2015

    FULLY FRANKED DIVIDEND

    -7.7%

    Share price plus dividend

    MANAGEMENT EXPENSE RATIO

    0.46%

    0.41% in 2015

    TOTAL PORTFOLIO

  2. Independent Audit Report

14¢

Final

24¢

Total

$749.8m

Including cash at 30 June

42 Other Information

  1. Information About Shareholders

  2. Substantial Shareholders

  1. Transactions in Securities

  2. Holdings of Securities

Down 2 cents from 2015

TOTAL PORTFOLIO RETURN

$863.2 million in 2015

46 Major Transactions in the Investment Portfolio

  1. Sub-underwriting

    -1.1%

    Including franking*

  2. Issues of Securities

  3. Company Particulars 49 Shareholder Meetings

S&P/ASX 200 Accumulation Index +2.2%*

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

Djerriwarrh Investments Limited

ABN 38 006 862 693

DIRECTORS' REPORT

This report in relation to the financial year to 30 June 2016 is presented by the Directors of Djerriwarrh Investments Limited ('the Company') in accordance with a resolution of Directors.

5 YEAR SUMMARY

2016

2015

2014

2013

2012

Net profit after tax ($ million)

40.7

46.9

42.9

37.7

44.1

Net operating result after tax ($ million)

42.2

45.5

42.4

35.1

37.9

Investments at market value ($ million)(a)

748.9

821.3

871.4

765.0

729.0

Dividends per share (cents)(b)

24.0

26.0

26.0

26.0

26.0

Net asset backing (cents)(c)

309.0

352.0

376.0

350.0

317.0

Number of shareholders (30 June)

18,934

18,990

19,035

19,005

18,779

Notes

  1. Excludes cash.

  2. All dividends were fully franked. For 2016 the dividend carried attributable LIC gains of 7.1 cents per share. For 2015 and 2014 it was 10.0 cents per share and for 2013 it was 14.3 cents per share. There were no attributable LIC gains attached to the dividend for 2012.

  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.

Djerriwarrh Investments Limited Annual Report 2016 1

Djerriwarrh Investments Limited published this content on 25 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 August 2016 07:19:05 UTC.

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