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SHINE JUSTICE LTD — Earnings Release 2013
Aug 27, 2013
65787_rns_2013-08-27_1213a359-1656-4d4a-b5b3-2a8702b4ce0e.pdf
Earnings Release
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ASX Announcement
| Financial details | FY13 | FY13IPO Forecast |
|---|---|---|
| Revenue | $ 105.4m | $101.7m |
| EBITDA | $ 27.7m | $ 27.1m |
| EBITDA margin | 26.3% | 26.6% |
| NPAT | $ 17.5m | $ 17.3m |
| Earnings per share* | 12.3c | 11.2c |
| Dividend per share | 1.75c | 1.50c |
| Gross operating cash flow | $8.7m | $ 8.1m |
Shine Corporate Limited FY13 Financial Results
* Earnings per Share for FY13 are based on the weighted average number of ordinary shares for basic and diluted shares of 141,775,578, whilst the FY13 IPO Forecast contained in the prospectus was based on 155,000,000 shares.
The Board of Shine Corporate Limited today announced that the FY13 financial results had met or exceeded the forecasts as disclosed in the FY13 IPO prospectus.
In commenting on the full year results, Simon Morrison, Managing Director, said "we are very pleased that we have met our IPO forecast for EBITDA and NPAT for FY13. These results are due to a number of strategies including: continued growth in personal injury litigation outside Queensland; growth in our emerging practice areas; strategic acquisitions as well as organic growth; and a focus on productivity improvements."
Key highlights for the year include:
- Successful IPO and ASX listing in May 2013
- Achievement of FY13 prospectus forecast EBITDA and NPAT
- The growth of emerging practice areas from 7% to 12% of total revenue
- FY13 revenue growth of 23% through acquisitions and organic growth
- FY13 new client enquiries continued to rise with 30,000 enquiries resulting in 6300 new file openings
Mr Morrison said the focus for FY14 includes:
- Continuing to grow the emerging practice areas
- Further strategic acquisitions both domestic and international
- Further business process and productivity improvement
"We have a positive view of FY14," said Simon Morrison, Managing Director. "We believe we are well placed to capitalise on these opportunities and to meet the forecast for FY14 as provided in Shine Corporate Limited's prospectus for its initial public offering."
The Board of Directors has declared an unfranked dividend of 1.75c per share with a Record Date of 18 September 2013 and payable on 9 October 2013.
The FY13 audited accounts and annual results presentation has been lodged with the ASX and can also be found on Shine's website – www.shine.com.au
For more information
| Simon Morrison, Managing Director -Shine Corporate Limited | 07 3837 9435 |
|---|---|
| Craig Thompson, Chief Financial Officer -Shine Corporate Limited | 07 3837 9431 |