2025 Annual Report

• Net profit after tax of $432.0 million, down 3.4% from prior year
• Net assets increased 17.9% to $2,441.3 million
• Final dividend of 9.0 cents per share, up from 7.0 cents in prior year

MFF Capital Investments Ltd reported its 2025 annual results, with the company's investment activities remaining the principal driver of the Group's earnings and long-term performance. The Group recorded a net profit after tax of $432.0 million, down 3.4% from the prior year, and a net profit before income tax of $615.6 million, down 3.7%. The Group's balance sheet and financial flexibility remain strong, with $2,441.3 million in total equity and investments principally comprising the MFF Portfolio, which had a market value of $2,740.9 million at year-end. The Group paid cash dividends of $61.7 million and cash tax payments of $91.6 million during the financial year. The step-change in the Group's internal resources and capabilities, primarily associated with the acquisition of Montaka, caused total operating expenses to rise. The Directors declared a fully franked final dividend of 9.0 cents per share, up from 7.0 cents per share in the prior year, bringing total declared dividends in respect of the year ended 30 June 2025 to 17.0 cents per share.