re: **** pracom up 40%...looking good buyers back
Chairman address
Revenue: Pracom expects ongoing revenue in 2004/05 to be more than $40m, assuming a successful Recapitalisation Plan is implemented.
The Services Division: represents the major portion of the company’s revenue and segmented results for the division show revenue of $46.2m for the year to 30 June 2004 with a contribution to the company results of $5.6m before the allocation of Shared Services.
So, in summary, acceptance of the recapitalisation strategy, which is supported by our financiers, is the key to removing financial uncertainty and protecting shareholder value. The energetic and focused efforts of the last 9 months is likely to produce an outcome to the recapitalisation plan that has only just reached a meaningful stage, and should result in a resolution by early 2005.
