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Barramundi (BRM) briefings
Read that company's published results in release order, newest first.
Barramundi (BRM)FY26Released 24 August 2026
Barramundi NTA per share sinks to $0.53 as portfolio drives $42.9m net loss
NTA per share dropped 25.4% to an unprecedented $0.53 even as investment income rose 36.1% to $6.6m, masked by portfolio losses.
Published 24 August 2026
Read briefingBarramundi (BRM)HY26Released 16 February 2026
Portfolio swung to unprecedented -5.8%, 11.4pp behind benchmark
Recurring investment income held above its historical range, but a NZ$13.5m portfolio loss pushed NPAT to -NZ$15.4m and NTA per share to NZ$0.63.
Published 22 April 2026
Read briefingBarramundi (BRM)FY25Released 18 August 2025
NPAT fell 71.9% as portfolio gains cooled; coverage dropped to 39.4%
Record investment income of NZ$4.8m was outpaced by NZ$12.3m in distributions, leaving capital gains to fund the gap.
Published 22 April 2026
Read briefingBarramundi (BRM)HY25Released 21 February 2025
Portfolio trailed benchmark by 2.3pp as NPAT halved to $8.9m
Smaller fair-value gains drove NPAT down 47.6%, lifting the payout-to-NPAT ratio to 51.3% versus a 26.5% historical mean.
Published 22 April 2026
Read briefingBarramundi (BRM)FY24Released 19 August 2024
NPAT down 26.6% as portfolio gains normalise off a strong FY23
Investment income rose 4.4% to $4.2m, but lower fair-value contribution cut total return 24% and ROE from 19.2% to 13.0%.
Published 22 April 2026
Read briefingBarramundi (BRM)HY24Released 22 February 2024
Portfolio return of NZ$19.7m drove PBT up 30.9% and NTA per share up 15.1%
Portfolio total return of 8.8% beat the benchmark by 1.1pp, but a lower effective tax rate flattered the 39.3% NPAT print.
Published 22 April 2026
Read briefingBarramundi (BRM)FY23Released 22 August 2023
NTA per share rose 12.5% to $0.72 as portfolio swung to $43.6m total return
Investment income covered only 40.7% of distributions paid, so capital recycling continues to fund shareholder payouts despite the headline profit
Published 22 April 2026
Read briefingBarramundi (BRM)HY23Released 17 February 2023
Net assets sank 21.2% to an unprecedented NZ$178.1m low
An 8.9% portfolio return lagged a 10.7% benchmark, and NPAT fell 18.1% on the smaller asset base.
Published 22 April 2026
Read briefingBarramundi (BRM)FY22Released 22 August 2022
Portfolio swung to NZ$32.6m loss as NTA fell 26% to 64 cents
Unprecedented portfolio drawdown eroded NAV while distributions of NZ$11.0m were paid against only NZ$3.8m of investment income.
Published 22 April 2026
Read briefingBarramundi (BRM)HY22Released 28 February 2022
NTA per share hit record $0.85 on 7.7% portfolio return
The portfolio's 7.7% return beat a weak 3.7% benchmark, but distribution coverage of 35% leaves the payout dependent on capital returns.
Published 22 April 2026
Read briefingBarramundi (BRM)FY21Released 24 August 2021
Record $52.3m profit as portfolio returned 37.6%, beating benchmark by 9.5pp
Headline NPAT was dominated by $53.9m of portfolio gains while investment income fell 6.5%, leaving distributions only 40.5% covered.
Published 22 April 2026
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