fy06 net 4.5m looks to growth in fy07

Sydney - Wednesday - August 9: (RWE Aust Business News) -
Colorpak Ltd (ASX:CKL) reported a net profit of $4.5 million for the year
to June 30 2006, down 15.4 per cent on the prior year.
Revenue was up 20.7pc to $70.72m.
A fully franked 1.75c dividend will be paid October 5 with reocrd
date September 4.
This brings dividends for the year to 2.75c.
The fall in net profit was attributed to the relocation of the
NSW carton business to a purpose built facility at Regents Park,
completed in June, with one-off relocation costs of $425,000, $242,000 in
restructuring costs and a further $509,000 in associated impairment
losses.
With new premises and world class equipment, the company
anticipates continued growth in both NSW and Victoria.
The setback to earnings in January to June 2006 is expected to be
reversed over the next six months.
The company expects the second half of FY07 to outperform the first
half.
"The earnings growth path is forecast to be re-established for
2007 with expected revenues of between $71m and $73m and expected NPAT of
between $5.1m and $5.4m," Colorpak said.
Cash flows from operations are expected to continue to be robust
through 2007.
The company has now concluded a strategic review of the recently
acquired Castle Graphics foil and self-adhesive leaflet business which
has not been performing to expectations.
This business will be integrated into the new Regents Park
facility.
The benefits of the restructure are expected to flow through from
early in the 2007 financial year.