This morning's agm of NHR@10am a provider of hire equipment on...

This morning's agm of NHR@10am a provider of hire equipment on the eastern seaboard of australia should confirm re the 30/6 results and current market conditions the following:
1-demand currently outstripping supply via dwelling,alteration&additions&nondwelling construction plus commencement of several infrastructure projects inc sydney cross city tunnel,m7 west link road,melbourne spencer street station redevelopment in conjunction with other suppliers inc leighton holdings
2-branch closures and amalgamations have not stopped sales rev continued increase
3-$6.3m recent rights issue(92% acceptance) will help assist reduce sub hire expenses for plant and equipment and expand equipment fleet for future hire
4a-pre&post tax profit figures reflect significant turnaround post HIH case laid to rest and mgmt now more focused on daily business operations
-revenue increased 4.9%($15,093,000) V industry growth 3.5%
-the last 6 mths revenue reflected a 6% increase
-pre tax profit y/e 30/6 $111,000 V $1.434M LOSS
-ebitda 5.791m increased 10.9%
-npat y/e 30/6 $88,000 V $894,000 LOSS
-pre tax profit 6 mths to 30/6 $169,000 V 31/12 $58,000 LOSS
-interest bearing liabilities reduced by $1.652m
4b- multiple service provider with all divisions reporting increased revenue
5-improvements driven by mgmt restructure(appoinment of mr kelsey ex chairman ah plant hire/arl division),marketing(nine network'DIY Rescue') ,sales initiatives,cost control,capex to build scale,volume & replace sub hire
6-outlook for all buainess units is for increased demand
7-directors intention to return to a dividend payout ratio about 40%
8-IT upgraded to baseplan hire&accounting system that will assist in mgmt & analysis of business performance
9-interest cover @ 3.7 times at 30/6
10-company poised for growth and operating in what is generally a historically busy 6mth trading cycle
11-BIS schrapnel forecasting strong growth until at least 2006
12-company objective to build stock levels,reduce costs and meet demand from all customers
13-continue providing:
-wide product range
-multiple service
-high quality service & expertise
-provide economies economies of scale to benefit customers
-customer friendly staff
-efficient marketing
-unified customer contact
-continue providing at least 4 business units tools&equipment,portaloo/sitehed,hi lift,& pump rentals