News: Infomedia's net profit surges 22%

Infomedia Ltd (ASX:IFM) should trade higher after revealing that net profit after tax grew by 22% to $12.3 million, and sales revenues grew by 17.4% to $57.1 million.

The increase in sales revenue was driven by growth in all major product lines.

Electronic Parts Catalogue Solutions (EPC) revenue rose by $6.6 million, and Superservice revenue increased $2.2 million.

Subscription equivalents increased to an all-time high of 75,838 with Superservice products increasing 9.2% to 18,274 subscriptions, and EPC subscriptions by 1.5% to 57,564. 

In constant currency terms, sales revenue rose by $2.9 million and operating costs increased $1.1 million.

Cash flows from operations increased by $1.2 million to $12.5 million due to the higher profit, and the company is debt free with $11.4 million in cash as at 30 June 2014.

Infomedia also declared a fully franked final dividend payment of $0.0189 per share.

This, together with the interim dividend of the same, results in a total dividend of $0.0378 for the full year which is 34% higher than the prior year.
 
The company expects NPAT to exceed $14.5 million in FY2015 driven by increasing sales, and is currently capitalised at $270 million. 

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