HST 0.00% 16.0¢ hastie group limited

fantastic results

  1. 5,451 Posts.
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    Hastie profit up 45% Strong growth to continue Hastie Group Limited, Australasia's leading building services and refrigeration systems group,
    today announced a record first half profit of $14.5 million after tax for the six months to 31
    December 2007. This is an increase of 45 per cent over the previous corresponding period.

    Revenue increased by 43 per cent to $506.3 million, with more than two-thirds of the increase
    resulting from organic growth. Earnings per share increased by 36.0 per cent to 12.1 cents.

    The directors have declared a fully franked interim dividend of 7.0 cents per share (FY2007:5.5
    cents), payable on 15 April 2008 to shareholders on the register at 11 March 2008. The
    dividend reinvestment plan will apply to this dividend, with a discount of 2.5% to the Volume
    Weighted Average Price per share. Hastie is continuing to grow strongly, both organically and through acquisitions, and today has
    announced its largest acquisition to date ­ Rotary Limited (`Rotary') ­ which will establish the
    company as one of the leaders in the building services industry in the UK and Ireland. Details
    of Rotary are contained in a separate ASX release.

    IMO this will re rate the stock above $5 over the next few months and set up a large world wide services company. Talking to the small business's about especially in the building sector service is in very high demand and skilled personnel are sort after. A couple running a plumbing business in the North of Sydney alone are turning over $4.5m a year, using contracted staff. Well organised company's like Hastie will continue to grow....
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