Thursday, 19 February 2015 – Sydney – International automotive software developer, Infomedia Ltd today released its half year financial results for FY2015, announcing continued growth in sales revenue and net profit after tax (NPAT).
For the six months ended 31 December 2014:
| HY15 ($’000) |
HY14 ($’000) |
Movement | Movement Constant Currency |
|
| Sales Revenue | 29,336 | 28,012 | 5% | 4% |
| Net Profit After Tax (NPAT) |
7,005 | 5,754 | 22% | (3%) |
| Earnings Per Share (cents) |
2.28 | 1.89 | 21% | N/A |
| Dividend per Share (cents) |
1.94 | 1.89 | 3% | N/A |
- Within the increase in revenue of $1,324,000, Superservice solutions – excluding electronic parts catalogues (EPC) – grew 8% (also 8% in constant currency terms) and EPC revenue grew 4% (3% in constant currency terms).
- NPAT increased by $1,251,000 or 22% over the previous corresponding period resulting from growth in sales revenue combined with a favourable foreign exchange variance.
- Cash flow from operations increased $1,353,000, or 21%, to $7,742,000 due to increased profit and a reduction in working capital.
- Net assets increased to $42,626,000. The balance sheet remains strong with no debt and $13,262,000 of cash.
The Company confirms its most recent guidance that NPAT will exceed $13,700,000 (FY 2014: $12,279,000), representing an increase of 12%. This reflects expectations that a decrease in operational costs and favourable currency exchange variance will partially offset the reduction in sales revenue from the non-renewal of one of the Company’s contracts with JLR which related to Superservice Menus.
An interim half year unfranked dividend of 1.94 cents per share has been declared (FY14: 1.89 cents per share (franked to 0.5 cents)). The record date to determine entitlements to the dividend distribution is 5 March 2015 and the dividend will be payable on 18 March 2015.
Infomedia’s CEO, Andrew Pattinson said: “Whilst our EPC business remains strong, I am particularly pleased with the success of Superservice pilots over the past 6 months. It is good to see individual dealers signing up and we are focused on broader commercialisation in the near future.”
