net profit down 49pc to 8.2m for year

Sydney - Wednesday - Sep 20: (RWE Australian Business News) - SP
Telemedia Ltd (ASX code: SOT) net profit fell 49 per cent to $8.17
million in the year ended July 31 from $16.06 million a year earlier.
Excluding amortisation and significant items, net profit was
down 3 per cent to $17.02 million from $17.51 million.
Revenue rose 119 per cent to $490.57 million from $224.3
million.
Earnings per share fell 51 per cent to 2.3c while EPS excluding
amortisation and significant items fell 6 per cent to 4.8c.
Directors noted the company's earnings per share were affected
during the year under review by the issue of 50 million shares to WIN
Corporation in July 2006.
Final dividend has been maintained at 1.2c, fully franked, for
shareholders registered October 11.
Total payout for the year is 2.4c.
The reported net profit was hit by a number of significant
one-off items, including:
* the first-time adoption of AIFRS;
* non-recurring management restructure and operational
rationalisation in B Digital Ltd (ASX code: BBB), in which SP Telemedia
has a 46 per cent equity interest);
* losses incurred within the SOUL Voice (SPTCom) business,
which is now trading profitably;
* non-recurring major write-offs by B Digital on its investment
in the B Shop joint venture; and
* other non-recurring significant items in B Digital, including
write-off of assets and receivables recorded in prior periods.