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VERIS LIMITED — Earnings Release 2012
Jul 25, 2012
66021_rns_2012-07-25_be786fe8-6ef4-40fe-9e4f-7af01031c7d2.pdf
Earnings Release
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ASX/NEWS RELEASE
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ASX: OTC
26 July 2012
OTOC FY12 RESULTS
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Revenue of approximately $158 million
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EBIT of approximately $7 million
OTOC Limited (ASX code: OTC) is pleased to announce, based on current management accounts for the year ended 30 June 2012, that it has refined forecasts for OTC group revenue and EBIT, which are now expected to be approximately $158 million and $7 million respectively.
These figures are based on current internal management accounts and subject to finalisation of the full year accounts and external audit and before transaction cost associated with the OTOC merger and corporate overhead costs.
OTC’s CEO Adam Lamond said: “These results represent a marked improvement over the December half and reflect recent initiatives to better monitor revenue and costs at a project level, as well as our strong competitive position. We are particularly pleased that both OTOC Australia and Whelans expect to exceed guided revenue and report strong EBIT figures, combined with a solid order book for 2013”.
For further information please contact
Adam Lamond CEO, OTOC Limited Tel (08) 9317 0628
Brian Mangano OTOC Limited CFO, OTOC Limited ACN 122 958 178 Tel (08) 9317 0633 Level 1, 43 Kishorn Road Applecross Western Australia 6153
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About OTOC
OTOC Limited is a leading provider of resources and infrastructure services through its wholly owned operations OTOC Australia and Whelans.
Established in 2003, OTOC Australia specialises in the installation of mine site accommodation and non-process infrastructure for mining and oil and gas projects. OTOC Australia has a successful track record of delivering turnkey mining camp solutions for blue-chip clients including BHP Billiton, Rio Tinto and FMG.
Whelans is a leading consultancy in the provision of surveying, mapping and town planning, with a focus on the resources sector. Whelans has 110 professional staff operating from offices in Perth, Karratha, Broome, Kununurra and Kalgoorlie.
www.otoclimited.com.au