ASX Release Financial Year 2004 Profit Guidance & Maiden Dividend Following a review of current financial performance and expected trading conditions for the remainder of the financial year, the Board of Sonnet Corporation Ltd (ASX code: SNN) is pleased to inform shareholders that it anticipates that Sonnet’s Net Profit after Tax (NPAT) will be between $2.3-$2.5 million (2003: $890,277) for the year ending June 2004. This anticipated result represents a substantial improvement on the previous year’s performance and, whilst overall industry conditions show signs of improvement, the Board has adopted a conservative stance in formulating this earnings guidance. In line with the expected earnings outcome for 2003/4 and given the company’s strong cash position, the Board has decided to declare a maiden dividend (unfranked) of 1.5 cents per share. The dividend will be payable on February 2, 2004, with the record date being January 19, 2004. The payment of future dividends will depend on the continuation of favourable trading performance, anticipated capital commitments and overall business strategy By Order of the Board, Robin Devries Chairman
SNN Price at posting:
0.0¢ Sentiment: None Disclosure: Held
