ADULTSHOP.COM LIMITED 2002-05-13 ASX-SIGNAL-G --------------------------------------------------------------------- HOMEX - Perth --------------------------------------------------------------------- +++++++++++++++++++++++++ 2001/2002 REVENUE OF OVER A$118 MILLION FORECASTED ADULTSHOP.COM'S REVENUE AND PROFITS EXPECTED TO SOAR --------------------------------------------------------------------- After reporting its maiden profit in the first half of the financial year 2001/2002 and with increasing positive cash flows being generated in each of the past three quarters, AdultShop.com Limited todayreleased revenue and profit forecasts for the remainder of the calendar year 2002. --------------------------------------------------------------------- Revenue from ordinary activities for the financial year 2001/2002 is forecasted to reach over A$118 million, with revenue for the financial year 2002/2003 projected to increase further and set to reach over A$106 million for the first half of 2002/2003 alone. --------------------------------------------------------------------- After the maiden profit of A$272,000 in the first half of the financial year, net profits after tax for the full financial year 2001/2002 are forecasted to reach a total of more than A$5.6 million. Net profits for the first half-year of 2002/2003 are expected to more than double again to over A$11.6 million. AdultShop.com expects its cash reserves to reach over A$30.3 million at the end of December 2002. Detailed projections are released as follows: --------------------------------------------------------------------- 1H2002A 2H2002F 1H2003F JULY 2001- JAN 2002- JULY 2002- DEC 2001 JUN 2002 DEC 2002 ACTUAL FORECAST FORECAST A$ '000 A$'000 A$'000 --------------------------------------------------------------------- Revenue from Ordinary Activities 37,879 80,880 106,570 EBITDA 3,759 10,240 20,120 EBIT 297 6,920 17,310 Net Profit after Tax 272 5,360 11,620 Cash Generated 5,344 10,730 12,950* Cash at End of Period 6,662 17,400 30,350 --------------------------------------------------------------------- * Net cash flow after tax. --------------------------------------------------------------------- The majority of revenue and profit growth is expected to be generated by the Company's online entertainment business, Today's Success Pty Ltd. The ongoing strong member growth of its online entertainment websites is expected to be further accelerated by the increased uptake of high speed Internet connections and a wider range of entertainment products on offer. --------------------------------------------------------------------- A solid performance is expected for the Company's retail, e-tailing, mail order and wholesale divisions, which command leading positions in the Australian market and, in the case of the e-tailing division, has gained a firm foothold in overseas markets. --------------------------------------------------------------------- AdultShop.com's Managing Director, Malcolm Day, stated: "After successfully bedding down a number of acquisitions in the past two years, I am very happy that we are now starting to reap the rewards of our acquisition and global expansion strategy. Once our cash reserves have reached set benchmarks, we will once again actively pursue potential acquisition opportunities. We fully intend to maintain and even accelerate the momentum of our projected revenue growth and profitability in the future." --------------------------------------------------------------------- To present these forecasts, broker presentations covering Perth, Melbourne, Sydney and Brisbane have been scheduled for the coming weeks. --------------------------------------------------------------------- For further details or comment, please contact: --------------------------------------------------------------------- Malcolm Day Released by: CHIEF EXECUTIVE OFFICER Nancy Hackett AdultShop.com Limited INVESTOR RELATIONS MANAGER Phone: 61 8 9227 6777 Phone: 61 8 9227 6777 Email: [email protected] Email: [email protected] ---------------------------------------------------------------------
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