As I expected, good results from Korvest, highlights include:
- Revenue of $57m, up 27.3% on the previous year
- Profit of $1.6m, compared to a loss of $1.4m
- Increase in the fully franked dividend to 7 cents per share
- Positive outlook for the business moving forward based on the infrastructure boom for road and rail projects that Australia is currently experiencing.
Will be interesting to see the markets reaction on Monday once they have digested over the weekend.
Sentiment upgraded to a buy.
Ann: Annual Results - Press Release, page-2
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