Thursday, 23 July 2015 – Sydney – Infomedia Ltd announces its preliminary unaudited net profit after tax (NPAT) result for the year ending 30 June 2015 (FY2015) of $13.2m (FY2014: $12.3m).
This unaudited NPAT result compares with the Company’s previously communicated guidance on 19 February 2015 that NPAT would exceed $13.7m.
The Company continues to generate strong cash flows, closing cash increased by $4.7m or 41%, to $16.1m (FY2014: $11.4m).
The key drivers behind the shortfall are:
- Volatility in exchange rates, particularly in the past two months with the Euro and the valuation of hedging contracts. The pre-tax hedging gain of approx. $0.35m at 31 December 2014 turned to loss (unaudited) of $0.55m at 30 June 2015, contrasting with a stated assumption of net favourable movement; and
- Operating costs for the second half of FY2015 remained relatively flat reflecting additional costs of business development and implementation for new business including the major contract with Hyundai Motor America (announced on 25 February 2015).
Further information on the Company’s performance for FY2015 and outlook will be provided when the Company reports its full year audited results which is currently scheduled for 20 August 2015.
