22 November 2005
Zintel Group announces 16% increase in revenue for half year end 30 Sept 2005
Zintel Group Ltd (NZAX: ZIN) today announced revenue increased 16% to $21.1M for the six month period to 30 September,
up from $18.2M in the corresponding period last year.
Net profit before tax was $2.6 million, which exceeded an earlier published forecast by $100K. This result was lower
than the $2.9M achieved last year due to a planned increase in operating expenses associated with various longer term
growth initiatives. Zintel Group continued to generate strong operating cash flow of $2.171m for the period, resulting
in a closing bank balance of $4.682m, (with no debt or term liabilities), and an increase in total assets to $13.545m.
Accordingly the Directors are pleased to declare an interim dividend of 1.74 cents per share (cps) net, matching the
previous dividend and representing 49% of net profit. This dividend is fully imputed, giving a gross amount of 2.597
cps. Record date for dividend is 6 December, payable on 16 December 2005.
“Overall we are satisfied with the first half performance”, said Nick Gordon, Zintel Group Chairman. “We have
established a solid base which the business will be able to leverage to secure a number of significant emerging
opportunities in both the New Zealand and Australian markets”.
Since balance date, Zintel Group Ltd has also announced the appointment of Peter Halkett as Chief Executive officer.
Gordon goes on to say, “The Board is delighted to appoint someone of Peter’s calibre to the CEO role. The appointment of
an experienced and strategic leader is a pivotal part of our growth strategy.”
As previously advised, Zintel expects pretax profit for the full year ending 31 March 2006, to match the $5M NPBT
achieved last year despite the reduced first half result.