The group has achieved a profit of R5.5 million for the six months ended 31 December 2006. This result is in line with the forecast as outlined in the prospectus. On a turnover growth of 17%, the group has increased its profitability by 92%. EBITDA increased from 5.6% to 7.7% over the period under review. This is ahead of the EBITDA of 7.5% presented in the forecast. Headline earnings per share of 8.30c were achieved for the period under review. The group is well on track to meet the full year forecast of 13.13cps as set out in the listing prospectus.
Dividend
In line with the group's growth strategy, no dividend was declared for the period.
Prospects
Revenue increased by 17% over the comparative period in the previous year. Although a positive growth in revenue has been experienced, the full impact of the government spend on infrastructural development has not been seen yet. As the flooring installation usually forms part of the final phases of a construction project a substantial increase in revenue for the next few years are expected. The group expects to be successful in obtaining a substantial component of the increased infrastructural investment on schools and hospitals. The group is well positioned to benefit from the funding earmarked for high profile projects such as the Gautrain, the upgrade of exiting airports, the construction of the planned King Shaka airport and the preparation for the 2010 Soccer Word Cup.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
