report out ; "pch growth continues" ASX Announcement2 September...

report out ; "pch growth continues" ASX Announcement
2 September 2005
The Manager
Company Announcement Office
Australian Stock Exchange
Level 4, 20 Bridge Street
SYDNEY NSW 2000
PCH GROWTH CONTINUES
Specialist construction services company PCH Group Ltd today announced its third successive annual profit
increase with pre-tax earnings up 58% to $12.9 million. The Company also announced an increased fully
franked dividend of 1.25 cents per share, signalling its confidence in the outlook ahead.
The profit figure was achieved on a 66% increase in sales revenue to $81 million while EBITDA increased
41% to $15.9 million. Net profit after tax of $9.9 million included the benefit of a $0.9 million tax credit
resulting from entry into the tax consolidation regime. Return on average equity was 30%.
Several large projects with high labour components changed the revenue mix and resulted in revenues being
up considerably from the previous year, with a resultant small decrease in operating margins.
“These results reflect the continuing strong conditions and performance across most sectors in which the
company operates,” said Mr James Cullen, Managing Director of PCH.
“Trading conditions continue to be buoyant and the outlook remains positive over the next several years.
We are now well underway with the introduction of several new complimentary product lines and getting
these products into the market will be a major focus in the coming year”.
“In addition, we are still expanding our existing scaffolding operations into new markets, with a particular
emphasis on mining and energy,” he said.
The company expanded its stocks considerably during the year, both to meet demand in scaffolding and to
establish initial stocks of its new product lines. Mr Cullen said that the Company’s hire fleet had a long
useful life and provided a solid base to generate revenues for many years ahead.
For further information: Mr James Cullen
Managing Director
Telephone: (61 8) 9248 9000