I expect a strong half year results later this month based on the upgrade to Fy10 guidance released in October 09 and the strong performance of the domestic econonmy since that time.
Some quotes from the Oct 09 guidance..........
Keycorp's CEO, Mr. Joe Bonin, said "this strong start to fiscal 2010 is reflective of the
new Keycorp and driven solely by trading activity rather than corporate transactions.
Particularly pleasing about this result is the continued progress Keycorp is delivering
on the revenue, efficiency and operating expenses levels so soon after completing a
fundamental business transformation."
This stronger result is due to a number of factors:
- There was strong trading in the first quarter attributable to continued upgrade
activity driven by the new EMV security standard;
- Further new business wins were achieved off the back of software and
alternative product technologies;
- There was continued improvement of operational efficiencies; and
- The restructuring completed in FY09 achieved greater savings than previously
forecast.
The Board of Directors of Keycorp Limited (ASX:KYC) are pleased to announce an
upgrade to the FY10 EBIT guidance from $5 million issued on 31 August 2009 to
$6.5 million. The Company reiterates its previously stated intention to pay out in shareholder
dividends between 50-70% of profit, after the retention of working capital
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