PRUDENTIAL INVESTMENT COMPANY OF AUSTRAL 2002-11-27 ASX-SIGNAL-G
HOMEX - Sydney
+++++++++++++++++++++++++ The Chairman of PIA, Mr Don Taig, at the company's Annual General Meeting in Sydney today announced a profit upgrade for the first half of the financial year to 31 December 2002.
Mr Taig stated:
"We estimate the half year Earnings before Tax figure will be 50% higher than at 31 December 2001, on the assumption that there are no matters we are currently aware of which may negatively affect that expectation.
This increase is a consequence of continued revenue growth and the full benefit of the favourable renegotiation of PIA's data link network and fixed Telco costs commencing in July 2002."
Mr Taig also advised that should that result be achieved, an interim fully franked dividend of half of one cent could be payable.