Posts Tagged ‘Profit Announcement’

Australian Power & Gas Makes Maiden Profit

Monday, February 1st, 2010

Fast growing energy retailer Australian Power & Gas (APK) said today that preliminary results for the 6 months to 31 December 2009, which are subject to half year review, show the company has achieved its forecasts and reached the major milestone of a maiden net profit after tax (NPAT) of $1.05 million.  Earnings before interest, tax, depreciation and amortisation (EBITDA) were $6.4 million on revenue of $60.7 million for the six month period.

“This is a fantastic result for the company as we continue to deliver on our targets and forecasts. We continue to grow our core Victorian business and we now have 120,000 customer accounts,” said Australian Power & Gas CEO James Myatt.  “Now that we have achieved our goals of being profitable and cash flow positive we are looking at accelerating the growth of the company, and we are actively reviewing the opportunities to grow the customer base into both QLD and NSW.”

Mr Myatt said the company is now focused on its next stage of development by significantly expanding its presence in the Queensland and NSW markets in 2010. Such an aggressive growth strategy will require a re-forecast of anticipated results in due course, he said.

Australian Power & Gas also confirms it has a full load following hedge agreement in place for its Victorian power requirements through to the end of 2010 and will continue with a conservative wholesale supply strategy in 2011. Its current accounts receivable/accrued revenue financing facilities are also in place and not due for review until June 2011.

Australian Power & Gas also today released its quarterly 4C report for December 2009. The 4C shows a positive operating cash flow of $1.28 million. Receipts from customers were $62.4 million for the first half of the financial year.

www.australianpowerandgas.com.au

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Building Services Still Booming

Thursday, February 26th, 2009

Hastie Group Limited, the leading international building services and refrigeration systems group, today announced a 119 per cent increase in profit after tax to $32 million for the half year to 31 December 2008.  Revenue increased by 82 per cent to $923 million and earnings per share grew by 58 per cent to 19.4 cents.  These results include contributions from Rotary which was acquired in April 2008. 

The directors have declared a fully franked interim dividend of 7.0 cents per share, payable on 17 April 2009 to shareholders on the register at 6 March 2009. 

“This strong result reflects the resilience of Hastie’s operations during these challenging times,” said Mr. David Harris, Group Managing Director and CEO. “The group’s continuing contract wins and 20 per cent organic growth demonstrate the robust nature of its strategy and business model, which provides diversification across sectors and regions.” 

http://www.hastiegroup.com.au/

 

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Flight Centre Falls from the Sky

Thursday, February 26th, 2009

Flight Centre Limited (FLT) announced that during the six months to December 31, 2008, the company’s established businesses (excluding United States acquisition Liberty) achieved a $77.7million pretax trading profit.  This compares to a record $90.9million pretax profit in superior trading conditions during the previous corresponding period and a $53m trading result two years ago. 

The acquisition of Liberty however significantly reduced the profit.  Losses from Liberty as well as non recurring restructuring expenses and losses from the investment portfolio significantly affected the profit for this period.  These combined losses amounted to $43.5million, giving FLT an actual pre-tax result of $34.2million, in line with recent guidance. Overall, the company’s after tax profit result was $26.1million. 

Sluggish sales globally during the second quarter impacted on FLT’s results, following a reasonable first quarter of profit and total transaction value growth. 

FLT’s directors today declared a $0.09 per share fully franked interim dividend payable on March 27 2009 to shareholders registered on March 6 2009. This represents a 34% return of after-tax profit to shareholders, outside of FLT’s current policy of returning 50- 60%, subject to the business’s needs. While the company does not currently intend to alter its policy permanently, FLT’s board believes the reduced pay-out is prudent in the current climate. 

http://www3.flightcentre.com.au/corporate/ 

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Sonic Booms

Wednesday, February 25th, 2009

Sonic Healthcare (SHL) today reported a record interim net profit of A$137 million for the half year to 31 December 2008, an increase of 21% over the comparative period. The result was achieved on revenues of A$1,439 million, 28% higher than the corresponding period in the prior year. 

Sonic’s CEO and Managing Director, Dr Colin Goldschmidt, said: “Sonic Healthcare has delivered another strong result for the half year and has shown the resilience of its business against global economic conditions and the current credit crisis.  A particularly pleasing aspect of this result is the strong organic revenue growth of our laboratory operations. We have clearly taken market share in a number of our key markets, including Australia. The efforts of our management teams to identify and capture synergies are also bearing fruit, with strong margin expansion especially in Germany and the USA.” 

Sonic’s Board has declared an interim dividend of 22 cents per share (franked to 60%), a 10% increase over the previous year’s interim dividend. 

http://www.sonichealthcare.com/ 

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Reverse Corp Profit in Reverse

Monday, February 23rd, 2009

Reverse Corp Limited reports a net profit after tax of $7.9 million for the six months to 31 December 2008 representing earnings per share of 8.6 cents.

Earnings were approximately 20% below the previous corresponding period due to a decline in call volumes, increased marketing spend in the UK and start-up costs associated with the launch of 1800-Reverse in Ireland.

 The Company continues to generate strong operating cash flows, remains conservatively geared and is progressing the international expansion of its business. The Board has declared a fully franked interim dividend of 9 cents per share.  With EBITDA margins of 50% – 60% the company is well positioned to ride out a downturn in revenues.

 New brand campaigns will commence shortly in Australia and in March in the United Kingdom and Ireland. Anticipated cost savings in media rates will be reinvested to increase coverage which, together with the new creative campaign, is aimed at generating demand from new market segments.

 http://www.reversecorp.com.au/

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Picks And Shovels Still In Demand for IDL

Friday, February 20th, 2009

Industrea (IDL) is the modern day equivalent of the picks and shovel suppliers from the early days of mining and business is booming.  

Industrea is expecting to report an adjusted net profit after tax for the half of $24.65 million, up 106% on the prior comparative period. The increase in adjusted net profit after tax reflects improved financial results across Industrea’s businesses and the inclusion of trading results from the Huddy’s Mining Services business for the full period.  

Reported net profit after tax for the period, of $3.7 million, is inclusive of a non-cash impairment charge on customer contract intangible assets, of $17.18 million. The impairment has arisen from the termination of the Handlebar Hill Open Cut contract.  

The first half result is in line with directors expectations and the company reaffirms its full year guidance for FY2009 of adjusted net profit after tax in a range of $42 – $47 million.

http://www.industrea.com.au/

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Jackgreen Continues Robust Growth

Friday, February 20th, 2009

Leading Australian green electricity retailer Jackgreen (JGL) has experienced robust growth in its preliminary half-year results, with forecasts also remaining strong for the coming period. 

Consolidated revenue for the half increased to $34 million, up 70 per cent on the corresponding period last year.  The revenue increase has been largely from its GreenPower electricity business, while its energy efficiency business, Easy Being Green, is expected to rapidly grow from this half. An EBIT loss of $900,000 before non recurring charges for the half year was within its budget, keeping the company in line for its first annual operational profit. Non-recurring charges of $1 million were provided through increased write-offs of doubtful debts and provisions as the company works through earlier debtor issues. 

The company is forecast to continue it’s near 100% annual growth record for this year and return significant profit from next year as previously stated.  This growth will capitalise on favourable policy conditions including the increase in the government’s solar hot water rebate and its focus on building Australia’s renewable energy sector. 

Full year revenue for this year is forecast to be $80 million up from $44 million last year. Next year is forecast to achieve $150 million with an EBIT of at least $10 million.   

http://www.jackgreen.com.au/investor.php

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AYT Asset Backed Securities Continue to Perform

Tuesday, February 17th, 2009

It is not all doom and gloom in the investment sector with Adelaide Managed Funds Asset Backed Yield Trust (AYT) announcing a 16% increase in first half earnings and no impairment of assets held.  AYT has reported a $10.6 million net profit for the six months to 31 December 2008, in its half-year result released today. This result represents earnings of 11.16 cents per Unit.  

  • 1H09 Earnings per Unit up 16% over previous corresponding period
  • Yield forecast of between BBSW + 4.0% and BBSW + 4.5% for FY09 reiterated
  • Credit quality remains sound
  • Net Asset Value remains strong at $1.95 per Unit 

According to the Chief Executive Officer of Adelaide Managed Funds, Bruce Speirs, AYT’s investments continue to perform well.  “AYT has continued to achieve a return to Unitholders in line with its guidance of between 400 and 450 basis points above the average 30-day BBSW for the full year, despite significant volatility in global financial markets.” 

http://www.adelaidemanagedfunds.com.au/

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Rio Tinto Generates $20.7 billion in Cashflow

Friday, February 13th, 2009

Despite the global economic crisis Rio Tinto (RIO) announced record earnings of US$10.3 billion before abnormal items which was an increase of 38 per cent on previous year.  In addition to this US$1.5 billion was made from the sale of assets.  However the report also contained assets that were written down by US$8.4 billion for a net profit of just US$3.7 billion down 50% on the previous year.  Due to strong cashflow of US$20.7 billion Rio was able to substantially reduce its debt paying down US$6.5 billion to US$38.7 billion as at 31 December 2008.  Another US$3 billion of sales will be recognized in the second half of the financial year.  The full year dividend will be maintained at US$ 1.36 cents.   Record production was achieved in 2008 in iron ore, bauxite and alumina, borates, hard coking coal and US coal. 

Rio Tinto’s chairman Paul Skinner said, “Although the condition of the global economy and of demand for our products deteriorated very rapidly in the fourth quarter of 2008, the Group nevertheless registered record underlying earnings of $10.3 billion for the year, a rise of 38 per cent on the prior year. The Group benefited from the quality of its assets and its strength in the bulk commodities of iron ore and coal, which tend to be priced on an annual basis. These helped to offset steep falls in the price of traded metals such as copper and aluminium.”

 ”A major strategic partnership with Chinalco is being announced separately. It will create significant additional flexibility in managing the Group’s debt position and strengthen its competitive position in developing value creating growth options.” 

http://www.riotinto.com/

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Computershare Profits Down 15%, Shares Up 10%

Thursday, February 12th, 2009

Total revenue for the half-year is $777,056,785 a decrease of 0.8% over the last corresponding period.   The decrease in revenue is from the Asia Pacific and North America regions, which felt the effect of reductions in initial public offerings and a strengthening US dollar (Asia Pacific) and lower transaction volumes and margin income (North America). This was partially offset by an increase in revenue from the EMEA region which benefitted from significant rights issues in the Financial Services sector. 

The current half-year EBITDA result is $222,452,386 including significant items, a decrease of 13.9% from the prior year. Net profit after tax attributable to members is $130,871,281 a decrease of 15.5% from the prior year. The decrease is primarily driven by lower transaction volumes and lower margin income, asset write downs and a strengthening US dollar, partially offset by higher Financial Services sector revenues and cost reduction initiatives.

The company has announced an interim dividend for the 2008/09 financial year of AU 11 cents per share. This dividend is franked to 40%.

 http://corporate.computershare.com/australia/InvestorRelations/Pages/overview.aspx

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