ABN 12 003 135 680
1 Turnbull Close Pemulwuy NSW 2145 PO Box 3405 Wetherill Park NSW 2164 Telephone: 61 2 8624 8077
8 February 2016
The Manager
Companies Announcement Office ASX Limited
20 Bridge Street
SYDNEY NSW 2000
Dear Sir
The Directors are pleased to advise that based on unaudited management accounts for the half-year to 31 December 2015 consolidated sales revenue was $43.6m, which is an increase of 2.7% on the corresponding period last year.
Earnings before interest and tax (EBIT) for the half-year is expected to be around $3.5m. Profit after income tax is expected to be around $2.4m.
Final half-year results will be released to the market in late February 2016.
As previously advised, this year we are incurring higher operating costs due to the relocation of our main WA branch based in Kewdale, Perth (completed at the start of the financial year), the relocation of our Sydney Branch (completed and operational since November 2015) and the relocation of our National Distribution Centre from Guildford to Pemulwuy (currently underway with a completion date of late March 2016). All three moves have been to considerably larger premises capable of supporting long term growth and customer service objectives. Although market conditions remain difficult and our growth has slowed this year, the business continues to develop. We remain confident in our long term plans.
As previously indicated the Directors expect EBIT for the full year to be in the region of $7.5m.
Directors have declared a fully franked interim dividend of 4.0 cents per share, with a record date of 17 March 2016, to be paid on 31 March 2016.
Please also refer to Appendix 3A.1 Notification of Dividend released separately.
The Directors advise that the Supply Network Limited Dividend Reinvestment Plan will not operate in respect of the interim dividend.
Yours faithfully
Peter GillCompany Secretary
Supply Network Limited issued this content on 08 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 February 2016 16:13:59 UTC