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funtastic to exceed forecast

  1. justinp

    1,366 Posts.
    Result to exceed forecast


    HOMEX - Melbourne

    Managing Director, David Hendy reported today that due to the strong
    finish to the 2002 year, that the result for Funtastic would exceed
    the forecast released in November.

    Sales for the last two months of 2002 were strong across all
    divisions. In November 2002, we forecast net sales of $122.1 million,
    whereas actual sales have been 5% stronger than forecasted. As a
    result, whilst the final results are still to be determined, we
    expect the Net Profit Before Tax (pre-amortisation) to exceed our
    forecast in November by 10% or more.

    This is an excellent result for Funtastic and follows on from the
    recent acquisitions of JNH Australia Pty Ltd and the business of Toy
    and Hobby.

    Mr Hendy advised that the final result is expected to be released in
    the first week of March.

    For more information on Funtastic, visit the web site at
    www.funtastic.com.au and for comment contact David Hendy, Managing
    Director for Funtastic Limited.

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