stretching it's legs...., page-6

re: top pick Senetas reported this morning - not a bad report too eh ????

Here's my precis of it for those who are interested

"Senetas reports record sales and profits
SEN declares inaugural dividend

- Half-year results to 31 December 2004 –

Senetas Corporation Limited (ASX: SEN), a leading IT security solutions company today announced profit from ordinary activities before tax of $3.5 million and profit after tax of $4.9 million for the six-month period ended 31 December 2004.

The company recorded sales of $12 million for the six-month period; a 41% increase compared to the six-month period ended 31 December 2003 (“previous comparable period”).

Senetas also announced an unfranked interim dividend of 0.75 cents per share and a new capital management strategy that will aim to distribute 50% of profit attributable to shareholders via dividends.

The dividend, payable on 21 March 2005 with a record date of 7 March 2005, is the first dividend to be paid to Senetas shareholders.

“The Senetas balance sheet has continued to strengthen, with the company being completely debt-free at 31 December 2004, cash and deposits increasing to more than $6.5 million, plus a further $5 million worth of debtors.

Outlook

Mr Galbally said the outlook for Senetas was bright, through sustainable year on year growth driven byan increased take-up of security products as industries, such as banking and finance, become increasingly regulated.

“The company reiterates its guidance that profit for the full year will be in excess of $7 million and I expect that similar growth will continue well into 2006 and beyond,”he said."