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FSA GROUP LIMITED — Earnings Release 2007
Aug 22, 2007
64948_rns_2007-08-22_41742a68-cdbc-4688-a2b7-9d22bbdb43b3.pdf
Earnings Release
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FSA GROUP LIMITED
23 August 2007
Profit Guidance - FY 2007 Profit Before Tax $9.4m to $9.8m
Based on its management accounts (before audit sign-off) the Company expects to report a profit before income tax (and before minority interests) for the year ended 30 June 2007 (FY2007) of between $9.4m and $9.8m, a significant increase from the FY2006 result.
| FY 2005 | FY 2006 | FY 2007 | |
|---|---|---|---|
| Profit before income tax(and beforeminorityinterests) | $1.7m | $4.1m | $9.4m to $9.8m |
The Company expects to lodge its final Financial Statements for the FY2007 next week following completion of the audit by the Company’s auditors.
This record result represents a 129% to 139% increase in profit before income tax (and before minority interests) compared with the FY2006 results. Further commentary and analysis of the result will be set out in the Company’s 2007 Annual Report to be released shortly.
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This record result is after the Company has expensed during the FY2007 a total of $1.7m of set-up costs and initial operating costs for its new nonconforming residential mortgage lending business.
The continuing organic growth of the Company’s historic business lines, plus the future recurring revenue and profit streams from its direct lending businesses: residential mortgages, bridging finance, factoring finance and inventory finance (to be launched shortly), ideally positions the Company to continue growing profits and shareholder value.
On behalf of the Board Duncan Cornish Company Secretary FSA GROUP LIMITED
FSA Group Limited Head Office Level 3, 70 Phillip Street Sydney, NSW, 2000
Phone: (1300) 660 032 Fax: (1300) 660 050 [email protected]
ASX Code: FSA