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PEET LIMITED — Capital/Financing Update 2005
Aug 22, 2005
65600_rns_2005-08-22_67103178-ede1-4f77-91d3-13e3629ff52f.pdf
Capital/Financing Update
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23 August 2005
PIPIN'S
MEDIA RELEASE/ASX ANNOUNCEMENT
Profit Outlook for 2005/06 and Dividend Payout Ratio
Following release of the Peet & Company Limited (ASX: PPC) Appendix 4E ASX Preliminary Final report for 2005, the Company has issued profit guidance for the financial year ending 30 June 2006.
Peet & Company Limited Managing Director Warwick Hemsley advised the Company is targeting growth in earnings after tax of 10% for the year ending 30 June 2006 (i.e. $34.8M).
"The growth target is based on a continuation of present underlying market conditions" he said.
The Company has also lifted its target dividend payout ratio from 70% to 75%.
In announcing its 2004/05 results the Company foreshadowed a proposed final dividend of 7 cents per share fully franked to be paid Thursday 20 October 2005 with a record date of Friday 23 September 2005. This is in addition to the interim dividend of 5 cents per share (fully franked) which was paid in April 2005.
Ends
(Media enguiries to: Warwick Hemsley, managing director of Peet & Company Ltd 08 9420) 1111/mobile 0418 923 325 or Brendan Gore, Chief Financial Officer 08 9420 1115/mobile 0438 949 850)
MELBOURNE Level 1 436 St Kilda Road Melbourne VIC 3004 Tel: +61 3 9868 5900 Fax: +61 3 9866 6230 Email: [email protected]
BRISBANE Level 3 Waterfront Place 1 Faole St Brisbane Oi D 4000 Tel: +61 7 3360 0250 Fax: +61 7 3360 0841 Email: [email protected]