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EXCELSIOR CAPITAL LTD — Earnings Release 2015
Aug 13, 2015
64816_rns_2015-08-13_3ff70478-abec-4fd8-89a2-9ed26945e103.pdf
Earnings Release
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CMI Limited ABN 98 050 542 553 485A Zillmere Road Zillmere Qld 4034 Australia Postal address: PO Box 716 Virginia Qld 4014 Australia Telephone: (07) 3863 0667 Facsimile: (07) 3863 0795 Email: [email protected] Web: www.cmilimited.com.au
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14 August 2015
Australian Securities Exchange Exchange Centre 20 Bridge Street SYDNEY NSW 2000
CMI Ltd Expects Full Year NPAT of $5.45m
CMI Limited is expecting a net profit after tax (NPAT) result for the financial year ending 30 June 2015 of approximately $5.45 million.
This trading update is based on unaudited management accounts which are subject to finalisation by the Company and external auditors. The full year results will be published by 27 August 2015.
This result includes one-off contributions from the resolution of the CMI Industrial loan of $0.87 million and the finalisation of the TJM divestment which contributed a net gain on disposal of approximately $0.47 million. As expected, the value generated by the divestment was a premium to book value for the business.
CMI Executive Chairman, Mr Andrew Buckley, noted that:-
“This update on the FY15 annual results was made possible by the finalisation of the TJM sale completion balance sheet process which was only recently brought to conclusion.”
CMI is now well positioned with a profitable electrical products business, no debt, and in excess of $30 million in cash. The Board is considering all options to deliver value to the shareholders including potential acquisitions and/or capital management initiatives.
- ENDS –
Contact:
Mr Andrew Buckley Executive Chairman Mobile: +61 (0)412 059 526
About CMI (ASX: CMI): Established in 1991, and listed on the ASX in 1993, CMI Limited’s operation comprises the design and distribution of electrical components and cables for resources and infrastructure applications through its CMI Electrical Division.