Ironbark Capital Limited (IBC)

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General Information
Company Name: Ironbark Capital Limited
Stock Code: IBC
GICS Sub-Industry: Other Diversified Financial Services
Market Cap ($M): 95
Equiv. Shares (M): 171

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 0.555 $ 0.555 $ 0.555 $ 0.555 $ 0.555 20,000 0%

Company Overview

Business Description:
Ironbark Capital Limited (IBC) is an investment company holding a portfolio of Australian shares and fixed income securities. IBC is managed by Kaplan Funds Management.

Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  A 7.7 5.0 24.1 10.8 2.2 4.1 100.0
2013  A 6.2 4.0 225.0 12.9 4.0 7.6 100.0
2012  A 1.8 1.2 -77.3 37.8 3.7 8.0 100.0
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Challenger (CGF) $3,851 M 0.0459 -0.0139 0.0545 11.1533 11.3100 10.7251 3.85 4.43 4.81
Ironbark Capital (IBC) $95 M 0.2406 -- -- 11.1000 -- -- 4.00 -- --
IOOF (IFL) $2,713 M 0.1260 0.1396 0.0997 17.2651 15.1500 13.7763 5.25 5.81 6.40
Macquarie Group (MQG) $18,892 M 0.5572 0.1448 0.0577 16.0779 14.0445 13.2785 6.39 5.10 5.32
Platinum Asset Mgmt (PTM) $3,852 M 0.4366 0.0576 0.0522 20.4377 19.3238 18.3657 5.13 5.02 5.51

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth
IBC 0.70 11.1 1.00 --
Market 1.17 13.6 1.00 1.01
Sector 1.13 13.4 1.04 1.82

Name Position Start Date
Mr Michael John Cole Non-Executive Chairman 31 October 2002
Mr Ian James Hunter Non-Executive Director 31 October 2002
Mr Ross James Finley Non-Executive Director 30 January 1987

Name Position
Jill Brewster Company Secretary

Substantial Shareholders
Holding Name
11,425,278 (7.34%) RBC Investor Services Nominees Pty Ltd
36,065,029 (23.16%) Kaplan Partners Pty Ltd

Calendar of Events
Date Event
02 October 2015 Report (Annual)
21 August 2015 Report (Prelim)
21 August 2015 Report (Annual)
25 February 2015 Report (Interim)
30 December 2014 Div Pay Date
17 December 2014 Books Close
15 December 2014 Div Ex Date
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at


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