re: moving nicely ann now
MEDIA RELEASE 27 August 2004 PCH ACHIEVES RECORD PROFIT FOR SECOND SUCCESSIVE YEAR Specialist construction services company PCH Group Ltd today announced a record net profit for the second successive year with pre-tax earnings up 59% to $8.3 million. The Company also announced a fully franked dividend of one cent per share, signaling its confidence in the outlook ahead. PCH specialises in the hire and installation of scaffolding and is experiencing growth in all sectors in which it operates – the mining and international oil and gas industries and the residential and commercial building sectors. PCH started in 1995 with a $1.5 million acquisition of a Perth residential scaffolding hire business and has successfully implemented its growth strategy of leveraging itself to the Australian and international resources and oil and gas industries. In addition it is presently expanding rapidly into the construction industry on the east coast of Australia. The profit figure was achieved on a 45% increase in sales revenue to $49 million while EBITDA increased 51% to $11 million. Net profit after tax of $6.9 million received the benefit of a $1 million one-off tax credit resulting from the adoption of the tax consolidation regime. The Company’s operations in the second half continued the strong start in the December half but pre-tax profit was $3.9 million compared to $4.4 million. The difference related entirely to exchange losses and gains and, ignoring their impact, the second half result was marginally better. “The results reflect the continuing strong conditions and performance across virtually all sectors in which the company operates,” said Mr James Cullen, Managing Director of PCH Group Ltd.
PCG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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