Financial Summary:
Full Year Results (for year ended June 30th 2009):
QMASTOR DELIVERS RECORD RESULTS
• Net profit after tax up 33% to $1.63 million
• Total revenues increased 78% to $9.03 million
• Earnings per share improved 32% to 4.02 cents
• Dividend for the full year of 1.5 cents per ordinary share (up 50%)
• QMASTOR Share Purchase Plan to assist with expansion strategy
The Directors of QMASTOR Limited (ASX: QML) are pleased to announce the company
has achieved a record result in both profit and revenue for the 2009 year. Despite the uncertainty in the market place in the last twelve months, QMASTOR has realised a 33% increase in its net profit after tax. This was accomplished on the back of a 78% increase in revenues to $9.03 million.
Trent Bagnall, Managing Director commenting on the results said, “The key to QMASTOR’s success in the last two years has been management’s drive to diversify and broaden the company’s revenue base. The first stage of these goals has been achieved with international sales now accounting for 20% of QMASTOR’s revenues in FY2009.”
Dividend
Directors are pleased to announce a dividend of 0.5 cents for the second half making a total of 1.5 cents for the 2009 year, up 50% on the previous year.
Outlook
QMASTOR’s products and services are crucially important to the mining sector, particularly when business drivers include the optimisation of resources and cost reduction. This fact, combined with encouraging signs of recovery in the demand for bulk materials during the last three months, has QMASTOR confident of continued strong growth and profitability.
With market leadership in Australia, the Board and management will place an increased focus on international markets. In the coming financial year, QMASTOR expects international sales to be 25% of total revenues. The first step to achieving this goal is investing in the establishment of a US office. This is expected to open by December 2009 and may have an impact on margins in the short term. The ultimate objective is to derive 50% of company revenues from international markets by the end of FY2012.
QMASTOR has in the past funded its growth from cash flow. This cautious approach to balance sheet management has at times constrained the speed with which we could grow. However, the Board recognises that there are a number of companies whose products and services would add value and market share to QMASTOR. Management will continue to ensure that acquisitions deliver concrete benefits to the company and its shareholders.
There are a number of strategically important projects in the pipeline for 2010, which will add to our portfolio of major clients. The success of the company’s expansion into ports and terminals in 2009 forms a strong base for continued growth. Supported by a range of products and services that are being continually refined and enhanced, QMASTOR is targeting revenues for 2010 of at least $10 million via organic growth. The company has set a revenue goal of $30 million by end of FY2012. The company believes it has implemented the key strategies and structures to date required to meet this target.
Full Year to: Jun 30
Annual Revenue: FY 2009 $9,028,631 | FY 2008 $5,065,265 | FY 2007 $2,682,881
Listed: ASX - Australian Securities Exchange
Code: QML
(View live share price here)
52 week range: $0.16 - $0.44
Shares outstanding: 40,273,522
Earnings per Share as at 30/06/09: 4.02 (Cents)
Auditors: PricewaterhouseCoopers
Banker: National Australia Bank
Solicitor: Thynne & Macartney
Financial Summary:
Full Year Results (for year ended June 30th 2009):
QMASTOR DELIVERS RECORD RESULTS
• Net profit after tax up 33% to $1.63 million
• Total revenues increased 78% to $9.03 million
• Earnings per share improved 32% to 4.02 cents
• Dividend for the full year of 1.5 cents per ordinary share (up 50%)
• QMASTOR Share Purchase Plan to assist with expansion strategy
The Directors of QMASTOR Limited (ASX: QML) are pleased to announce the company
has achieved a record result in both profit and revenue for the 2009 year. Despite the uncertainty in the market place in the last twelve months, QMASTOR has realised a 33% increase in its net profit after tax. This was accomplished on the back of a 78% increase in revenues to $9.03 million.
Trent Bagnall, Managing Director commenting on the results said, “The key to QMASTOR’s success in the last two years has been management’s drive to diversify and broaden the company’s revenue base. The first stage of these goals has been achieved with international sales now accounting for 20% of QMASTOR’s revenues in FY2009.”
Dividend
Directors are pleased to announce a dividend of 0.5 cents for the second half making a total of 1.5 cents for the 2009 year, up 50% on the previous year.
Outlook
QMASTOR’s products and services are crucially important to the mining sector, particularly when business drivers include the optimisation of resources and cost reduction. This fact, combined with encouraging signs of recovery in the demand for bulk materials during the last three months, has QMASTOR confident of continued strong growth and profitability.
With market leadership in Australia, the Board and management will place an increased focus on international markets. In the coming financial year, QMASTOR expects international sales to be 25% of total revenues. The first step to achieving this goal is investing in the establishment of a US office. This is expected to open by December 2009 and may have an impact on margins in the short term. The ultimate objective is to derive 50% of company revenues from international markets by the end of FY2012.
QMASTOR has in the past funded its growth from cash flow. This cautious approach to balance sheet management has at times constrained the speed with which we could grow. However, the Board recognises that there are a number of companies whose products and services would add value and market share to QMASTOR. Management will continue to ensure that acquisitions deliver concrete benefits to the company and its shareholders.
There are a number of strategically important projects in the pipeline for 2010, which will add to our portfolio of major clients. The success of the company’s expansion into ports and terminals in 2009 forms a strong base for continued growth. Supported by a range of products and services that are being continually refined and enhanced, QMASTOR is targeting revenues for 2010 of at least $10 million via organic growth. The company has set a revenue goal of $30 million by end of FY2012. The company believes it has implemented the key strategies and structures to date required to meet this target.
Full Year to: Jun 30
Annual Revenue: FY 2009 $9,028,631 | FY 2008 $5,065,265 | FY 2007 $2,682,881
Listed: ASX - Australian Securities Exchange
Code: QML
(View live share price here)
52 week range: $0.16 - $0.44
Shares outstanding: 40,273,522
Earnings per Share as at 30/06/09: 4.02 (Cents)
Auditors: PricewaterhouseCoopers
Banker: National Australia Bank
Solicitor: Thynne & Macartney