As many companies cut dividends in these difficult market conditions SAI announced an increase to their interim dividend on the back of strong profit growth across the company.
SAI Global Limited (SAI) reported a 140.5% increase in net profit after tax for the six-month period ended on 31 December 2008.
The company achieved a revenue increase of 26.4%, driven by a combination of acquisitions and organic growth. Earnings before interest, tax, depreciation and amortization (EBITDA) increased by 37.5% to $28.2M, compared with $20.5M before the impact of the nonrecurring charges achieved in the corresponding period.
The company experienced strong underlying demand for its products and services across its three operating divisions, confirming the resilient nature of the company’s businesses in times of economic downturn.
The directors have increased the interim dividend to 5.4 cents per share. This dividend will be fully franked.
SAI continues to experience solid demand for its products and services despite the global macro-economic conditions. All of SAI’s divisions continue to perform in line with or ahead of budget. The directors expect the full-year result to be ahead of the result achieved last year and confirm the guidance provided on 22 January 2009.