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EXCELSIOR CAPITAL LTD — Capital/Financing Update 2013
May 9, 2013
64816_rns_2013-05-09_bfcb24cd-9c58-4c63-8f9e-86cb59f77f20.pdf
Capital/Financing Update
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CMI Limited ABN 98 050 542 553 150 Robinson Road Geebung Qld 4034 Australia Postal address: PO Box 716 Virginia Qld 4014 Australia Telephone: (07) 3865 9969 Facsimile: (07) 3865 3677 Email: [email protected] Web: www.cmilimited.com.au
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10 May 2013
Australian Securities Exchange Exchange Centre 20 Bridge Street SYDNEY NSW 2000
Trading Update
Based on unaudited management accounts to 30 April 2013, CMI Limited is expecting to report a net profit after tax (NPAT) for the year ended 30 June 2013 in the range $9.0m to $10.0m depending on final adjustments.
Electrical Products Division
Revenue for the Electrical Division is 5% lower on the corresponding prior comparable period to 30 April 2012 (PCP) .
Revenue from Electrical building and construction products for the period is higher than PCP.
Revenue from Electrical mining products for the period continues to be lower than PCP as a consequence of the lower coal price and the resultant deferral of capital expenditure and pressure on operational costs of underground coal mine operators.
This continued change in the product mix of revenues has resulted in lower overall margin and lower Electrical Division earnings.
TJM Products Division
Revenue for the TJM division is 6% higher on PCP.
The investment into management expertise, improved supply chain logistics, inventory control, marketing and online presence has increased the cost base of the business which will result in decreased earnings for the second half of the 2013 financial year compared to the half year ended 31 December 2012.
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Danny Herceg Non-Executive Chairman