Salmat H1 profit drops 6.5%

Company News

Direct marketer, Salmat Ltd (ASX:SLM) has reported that its half year net profit fell 6.5 per cent to $22.7 million.

In the same period, revenue was down 1.2 per cent to $447.6 million.

The company is optimistic that it can meet the full-year earnings guidance of $92.97 million, provided that trading conditions remain stable.

Chief executive officer, Grant Harrod says, “The companies results will be boosted by the increased earnings and synergy benefits from the recent acquisition and increased multi-channel sales, from the continued rollout of the One Salmat strategy."
Salmat recorded a net profit of $49.1 million for the year ending on the 30 June 2010.

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