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.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.