MXI 2.50% 20.5¢ maxitrans industries limited

Where to now

  1. 493 Posts.
    seems like they are improving with a good divi

    MAXITRANS INDUSTRIES LIMITED 2002-08-26 ASX-SIGNAL-G

    HOMEX - Melbourne

    +++++++++++++++++++++++++
    MaxiTRANS Industries Limited, Australia's largest supplier of road
    transport trailing equipment and solutions, earned a pre-tax profit
    of $3,409,000 for the year ended 30 June 2002, following on from its
    improved result of $2,100,000 for the prior year.

    The result, which is a 62% improvement on the prior year, included a
    $620,000 pre-tax profit on sale of the Coonara heater business, which
    was divested during the year.

    As a result of the improved performance and the directors confidence
    in the improving operating performance and market conditions, the
    Company will pay a final dividend of one cent per ordinary share on
    18 October 2002, bringing the total dividends paid for the year to
    1.5 cents per share, a 50% increase on the prior year. A dividend of
    1.8 cents per converting preference share will be paid on 30
    September 2002.

    HIGHLIGHTS

    * Net profit after tax of $2,587,000 was a 61% increase on the prior
    year

    * Despite operational difficulties and a subdued van market in the
    first quarter, the Company rebounded strongly in the last three
    quarters, assisted by strong demand in all market segments

    * Following the acquisition of Trail Truck Parts in May 2002, and the
    integration with the existing MaxiTRANS retail parts outlet, the
    Company is actively pursuing a strategy to rapidly expand the retail
    and wholesale parts group, which is counter-cyclical to the
    trailer/van segment, through improved sourcing, availability,
    customer service and product range

    * The new facility to accommodate equipment sales, retail parts,
    service/ repairs and corporate office at Boundary Road, Derrimut,
    Melbourne's transport hub, will be operational from October 2002

    * While a significant amount of the upgrade of the Ballarat
    manufacturing facility has been completed and commissioned the
    benefits will be realized during the year ending June 2003

    * The Chinese panel making joint venture continues to increase sales
    and earnings rapidly with a 65% increase in contribution to earnings
    over the prior year

    * The directors are encouraged by the order intake and strong start
    to the current year

    For more information please contact the Managing Director, Mr Michael
    Brockhoff, on 03 9215 4350.

    Alternately you maywish to visit our website at www.maxitrans.com.au


 
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