Zintel Communications announces positive results

Zintel Communications announces positive half year results

Auckland, NZ, 21 October 2003. Zintel Communications has announced a net profit before tax of $3.342 million for the half year to 30 September 2003, an increase of 39% on the pre-tax profit of $2.406 million to 30 September 2002. Revenue grew 18% to $20.363 million in the corresponding period.

After tax, the net surplus of $2.184 million compares with $1.612 million for the corresponding six month period in 2002, a 35% increase. The Directors have declared a dividend of 1.74 cents per share, in line with company policy to pay a minimum of 40% of net surplus as a dividend, with a record date of 14 November, payable 28 November 2003. The dividend is fully imputed resulting in a gross payment of 2.597 cents.

Nick Gordon, Managing Director of Zintel says, “Year to date we have enjoyed buoyant trading in both New Zealand and Australia. As our business is seasonal, we do not anticipate the result for the second six months of the financial year will match the record profit of the first half, however the full year will provide strong growth on last year.”

ENDS

About the Company
The Zintel group of companies specialises in providing business telecommunications solutions and information services and comprises Zintel Communications Ltd, a specialist Toll Free and Tolls service provider in Australia and New Zealand and Ericsson Enterprise Systems (NZ) Ltd, the sole importer and distributor of Ericsson’s enterprise product portfolio in New Zealand. For more information visit www.zintel.co.nz or call free on 0800 ZINTEL (946 835).

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