Profit's up...dividend should be 4 cents once again.
Lovely!
2 February 2006
Company Announcement – Profit Guidance
Pursuant to Listing Rule 3.1, Directors of Devine Limited advise that the profit for the half-year ended 31 December 2005 is above that of the corresponding period to December 2004.
Australian companies are now required to report their financial results under the Australian Equivalents to International Financial Reporting Standards (AIFRS). As indicated in the company’s 2005 Annual Report and highlighted in the Chairman’s address to Shareholders at Devine’s November 2005 AGM, the transition to these new accounting standards will have a material impact on the way that revenue, profits and shareholders funds are reported for Property Development Companies and, accordingly, on Devine Limited’s results.
Based on unaudited accounts and as reported under AIFRS, an after tax profit of $10.5M is expected to be reported for the December 05 half-year when the company’s results are released to the market on 23rd February 2006. This compares to the $5.764M reported for the 6 months to 31 December 2004 under the previous Australian Accounting Standards (AGAAP).
Directors expect to maintain the interim dividend at 4 cents per share fully franked (last year interim dividend 4 cents fully franked).
DVN Price at posting:
0.0¢ Sentiment: None Disclosure: Held
