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Slovar Limited — Earnings Release 2011
Feb 24, 2011
17773_rns_2011-02-24_db261f88-9a59-413c-83cc-68f94625da5a.pdf
Earnings Release
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MONEY3
MONEY3 Corporation Limited Unit 4, 60 – 70 Mahoneys Rd Thomastown Vic 3074 – Tel: (03) 9469 8200 Fax: (03) 9460 8300
SOLID GROWTH IN FIRST HALF PROFIT
Money3 Corporation Limited (Money3) today announced a profit after tax of $1,239,740 for the half year ended 31 December 2010, an increase of 11.4% on the previous year.
2010 Financial Highlights:
- Revenue has increased by 27% to $6,691,219
- Earnings before interest and tax increased by 16% to $1,858,720
- Earnings per share increased 10% to 3.9 cents
- Net Profit after tax increased 11% to $1,239,270
- Dividends per share increased 9% to 1.75 cents
Operational activities
All sectors of Money3 including branch network, Loan Centre, and Broker partnerships experienced strong growth and in line with the Strategic Plan a prudent growth path will continue both organically and through acquisition.
Under ASIC regulation of consumer credit we have applied for and received AFS(Australian Financial Services) licenses in the last few weeks. The benefit of our products being regulated federally rather than state by state will see further consistency and certainty to our customers.
The addition of key personal with vast experience in the finance industry and strong skill levels in portfolio management and complementary products is both supporting our consistent profit growth and the roll out of our new products and systems. Their abilities are being felt throughout the organization and the investment community providing investor confidence culminating in our recently announced underwritten rights issue.
Rights Issue
On 22 February 2011 Money3 announced a 1 for 3 rights issue. This issue is fully underwritten by Bell Potter Ltd and is expected to be completed on the 1 April 2011. The rights issue will raise approximately $3,943,828 before costs. The proceeds from the raising will enable the company to repay some borrowings, expand the current branch network, broaden the product offering from the loan centre and also acquire additional niche businesses.
Dividend
The directors are also pleased to announce a 1.75 cent per share fully franked dividend for the six months ending December 2010.
The relevant dates for the dividend are as follows:
Record date 15th March 2011 Dividend payment date 29th April 2011
The Company's Dividend Reinvestment Plan will apply to the payment, with new shares to be issued at a 5% discount to the 5 day Volume Weights Average Price (VWAP) commencing on the 15th March 2011.
Outlook
Money3 is positive about the second half of the 2010/11 financial year. Money3 expects all parts of the business to continue to grow and will continue to look for new niche businesses it can branch into.
The dedication and valued efforts of Directors, Management and Staff are evidenced by the Company's impressive results. We take this opportunity to thank them for their collective efforts and would also like to thank our valued shareholders for your commitment.
Yours sincerely,

Geoff Sam
Chairman
25 February 2011

Robert Bryant
Chief Executive Officer
25 February 2011
MONEY3 Corporation Limited
ABN: 63 117 296 143
Registered Office: Unit 4, 60–70 Mahoneys Rd Thomastown Vic 3074