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GALE PACIFIC LIMITED — AGM Information 2012
Oct 25, 2012
64963_rns_2012-10-25_1c7ea87d-f1a5-4a4a-8849-38eb83071480.pdf
AGM Information
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GALE PACIFIC LIMITED
(ASX: GAP)
ASX and Media Release
26 October 2012
2012 ANNUAL GENERAL MEETING - CHAIRMAN’S ADDRESS TO SHAREHOLDERS
Before the main business of the meeting I would like to make some brief comments regarding the Company’s financial performance during the 2011/2012 financial year. Following this, Peter McDonald our Managing Director and Chief Executive Officer will give a more detailed presentation on the Company’s operations and results.
I am pleased to report that in 2011/2012 Gale Pacific Limited achieved positive outcomes in relation to our key financial objectives, namely:
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Earnings per share increased by 18% compared with the previous year;
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Dividends payments increased by 11% compared with the previous year;
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Strong cash flow saw cash from operations exceed net profit after tax by 12% which enabled a high dividend payout ratio while maintaining a very conservative balance sheet;
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Return on invested capital (defined as earnings before interest and tax as a percentage of shareholders equity plus net debt) at 16% was above the Company’s weighted average cost of capital.
Our financial objective is to continue to increase earnings per share through undertaking investment which generates strong profitability and cash flow. The business strategy to achieve this will continue to involve both organic growth and growth by acquisition.
On behalf of the Directors I would like to take this opportunity to congratulate the management team on the year’s performance.
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For further information contact: Peter McDonald Chief Executive Officer Gale Pacific Limited +61 3 9518 3312 [email protected]
Gale Pacific is a trusted leading manufacturer and marketer of branded industrial and consumer screening, shading and home improvement products with operations in Australia, New Zealand, the USA, UAE, and China.
Gale Pacific Limited ACN. 082 263 778 145 Woodlands Drive, Braeside, Victoria 3195 Australia Telephone: (03) 9518 3333 facsimile: (03) 9518 3398 Toll Free: 1800 331 521 www.galepacific.com