talk about bad timing :-)CMA announces major profit increase for...

talk about bad timing :-)

CMA announces major profit increase for FY07, predicts further strong growth in FY08
Highlights
• Net profit up 284% to $6.5 million
• Revenue more than doubles to $237.3 million
• EBITDA up 139% to $18.1 million
• Earnings per share up 246% to 4.5 cents
• Strong activity across all metals recycling activities
• Profit growth exceeds revenue growth
• Successful acquisition and integration of 4 new businesses
• Successful $37 million capital raising to acquire Southern Rocycling
• Achieved critical mass and economies of scale in national operations
• Platform for strong revenue and earnings growth in FY08
Metals recycling group CMA Corporation Limited (ASX: CMV) today announced a $6.5 million net profit for the 12 months to 30 June 2007, a 284% increase on the previous year.
Revenue for the year rose by 103% to $237.3 million and EBITDA was up 139% at $18.1 million.
Basic earnings per share were 4.5 cents, up from 1.3 cents in FY06.