GAA released its 30 June end of year report this morning and the...

GAA released its 30 June end of year report this morning and the market has responded positively, pushing the share price up 10 cents or 25% to 50c.
The report has 4 highlights –
1. Net sales of $54.6 million
2. NPAT of $4.6 million
3. Forecast growth in NPAT 4 2007-2008 of 25%.
4. One off non cash write down of the Agreement with Genepharm Asia Pacific Enterprises P/L , which it would seem was costing the company about $2.4 million per annum and was to be amortised over 10 years, and which was reducing EBITDA annually by $2.4 million.
The Report suggests that the company is moving away from its ties with Genepharm Europe, is now able to make a profit, has written off an intangible asset which was encumbering its ability to post a profit, and is positive about sales growth for the 2007-2008 year.
If the company is able to produce NPAT for 2007-2008 in accordance with stated guidance in the Report that would translate to NPAT of $5.75 million or 4.1 cents per share based on issued capital of 140 million FPO shares.

It would be logical to expect payment of a dividend for the 2007-2008 financial year based on those figures.