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CVC LIMITED — Earnings Release 2017
Jul 5, 2017
64728_rns_2017-07-05_059b4c56-d10a-403b-961b-a0f9cedc372b.pdf
Earnings Release
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6 July 2017
Australian Securities Exchange Limited 20 Bridge Street Sydney NSW 2000
By: e-lodgement
Attention: Company Announcements Office
Market Update
The directors of CVC Limited (ASX: CVC) are pleased to provide guidance of an expected 100% increase in net profit after tax (NPAT) for the year ended 30 June, 2017.
Subject to finalisation of the audit for the period, NPAT is expected to be in the range of $27 to $30 million (2016: $13.8 million).
The result reflects the contribution from all investment segments. The anticipated result for the period does not reflect the increase in value of CVC’s substantial property portfolio attributable in part to progress with planning outcomes and an increase in underlying market values during the year.
During the year, CVC also focused on the development of opportunities that will contribute to recurrent earnings over future years. These included:
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Successful ASX listing of Eildon Capital Limited, with a substantial oversubscription of the $10 million IPO capital raising;
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Continued development and expansion of the property portfolio, including a substantial unrealised increase in underlying value;
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Continued development of the private equity portfolio, including the acquisition of a 48% equity stake in nutraceutical contract packager South Pack Laboratories (Aust) Pty Limited and other smaller stakes in private companies;
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Acquisition of initial stakes in a number of ASX listed companies; and
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Launch of the capital raising for the Add+Venture portfolio.
CVC expects to release its finalised audited results on or about 21 August, 2017 at which time it will also announce the final dividend for 2017.
Alexander Beard Director
CVC Limited Level 37 T 02 9087 8000 ABN34 002 700 361 1 Macquarie Place F 02 9087 8088 AFSL 239665 Sydney NSW 2000 www.cvc.com.au