ASC 6.67% 1.6¢ adultshop.com limited

ASC it feels good

  1. 415 Posts.
    Feels good when a trade comes of this well

    Just for those that missed it here is the announcement that set things off today

    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
    today released 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]






 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.