1h 8.4mill profit and 50pc operating margin

With only just over 50% of revenues coming from OnlineMedia MCU is positioned for strong growth for the next six to twelve months.

Highlights:

Financial results for the half-year ended 31 December 2007, compared to the previous corresponding period (pcp):

�� Gross billings of $593.5 million, up from $32.0 million the pcp;

�� Operating revenues of $86.1 million, up $56.8 million or 194% as compared to the pcp;

�� Operating EBITDA1 of $15.2 million, up $11.8 million or 347% on the pcp;

�� Gross operating profit margin of 50%, up 118% from 23% in the pcp;

�� NPAT of $8.4 million, up $6.1 million or 267% on the pcp;

�� Net debt (including deferred consideration) of $1.4m as at period end, versus $9.8m as at 30 June 2007, a reduction of 86%;

�� Basic and diluted earnings per share (EPS) of 3.1 cents per share (cps), up 158% or 1.9 cps on the pcp; and

�� A interim dividend of 1.8 cps, fully franked, up 1.0 cps or 125% as compared to the pcp.






Out Look For 2008:

• Currently the group’s year-to-date gross billings have maintained momentum from 1H FY’08 and are up +25% on pcp;

• The bookings pipeline to June 2008 looks solid;

• The 2008 AFL football season is shaping up to be record for the group, with sales already equivalent to 85% of those achieved in the 2007 season;

• Full period contributions from Coleman’s and Haystac also expected to lift 2H FY’08 earnings;

• Organic revenue opportunities via cross-selling and other means have begun however remain as a significant “treasure chest” to be unlocked;

• Activities are underway in order to realise synergistic cost savings from recent acquisitions however these are more likely to start flowing late 2H FY’08, then FY’09;

• Whilst remaining cautiously optimistic, the Group still expects ad spend for CY’08 to rise by 7.4% however this will remain a “watching brief” due to the potential impact on the market associated with uncertainty surrounding the
US economy.