Sydney - Tuesday - August 29: (RWE Australian Business News) -...

Sydney - Tuesday - August 29: (RWE Australian Business News) -
Silver Chef Ltd (ASX code: SIV), which leases equipment to the
restaurant and catering industry, lifted net profit 123.9 per cent to
$1.81 million in the year to June 30 from $808,000 a year earlier.
Revenue from continuing operations rose 78.7 per cent to $16.43
million from $9.2 million.
Basic earnings per share were 16.1c, up from 9.6c.
Final dividend has been increased from 3c to 5.5c, fully
franked, payable on October 20 to shareholders registered October 6.
This brings total payout for the year to 12c.
Directors said the funds raised when Silver Chef listed on the
ASX in May 2005, along with the company's strong cash-flow, had enabled
management to boost the size and range of equipment on offer.
By driving costs down and achieving equipment utilisation rates
of 95 per cent, Silver Chef maximised returns on capital invested.
While the directors were expecting the recent dampening in
consumer sentiment to have an impact on the hospitality sector, they
were confident the company would have another strong year in 2006/07.
Profit growth of 20 to 30 per cent has been targeted and the
strong cash-flow is expected to allow the board to at least maintain the
2006 year's dividend.