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AdultShop - Egoli Article

  1. munch

    3,567 Posts.

    AdultShop.com plays naughty but wins
    July 25, 2002
    AdultShop.com’s (ASC) expectations of a full-year $5.6 million net profit seem to be on track, today announcing a $6.3 million operating cash flow for the fourth quarter, following the precedent set by its other results this fiscal year.

    The company announced that receipts from customers increased by more than $9 million to $42.3 million, up from $32.5 million, while cash reserves at the end of the quarter also rose, up from $11.9 million to $17.5 million.

    ASC attributed the increase in operating cash flow to “the continuing successful implementation of various growth opportunities in the online entertainment business, Today’s Success PL”

    In May, ASC announced that it believed results for the full-year would include revenues from ordinary activities to reach over $118 million.

    The company also predicted that with revenue for the first half of 2002/2003 was set to reach over $106 million, with net profit expected to more than double to over $11.6 million.

    At the time, Mr Malcolm Day, ASC's managing director 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.”

    “We fully intend to maintain and even accelerate the momentum of our projected revenue growth and profitability in the future.”

    At 1136 AEST AdultShop.com was trading 1.5c or 6% stronger at 34.5c

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