Gale Pacific Limited Announces Consolidated Earnings Results for the Six Months Ended December 31, 2015; Provides Earnings Guidance for the Second Half and Full Year of Fiscal Year 2016
February 17, 2016 at 07:17 am IST
Share
Gale Pacific Limited announced consolidated earnings results for the six months ended December 31, 2015. For the period, the company reported revenues of AUD 82,377,000 compared with AUD 67,434,000 for the same period a year ago. Profit before income tax benefit was AUD 3,547,000 compared with loss before income tax expanses of AUD 1,761,000 for the same period a year ago. Profit after income tax expense for the half-year attributable to the owners of company was AUD 3,180,000 compared to loss after income tax expense for the half-year attributable to the owners of company of AUD 647,000. Diluted earnings per share were 1.06 cents compared to loss of 0.22 cents a year ago. Net cash from operating activities was AUD 1,497,000 compared to net cash used in operating activities of AUD 9,048,000 a year ago. Payments for property, plant and equipment was AUD 1,093,000 compared to AUD 2,484,000 a year ago. Payments for intangibles were AUD 284,000 compared to AUD 307,000 a year ago. Underlying EBITDA was AUD 8.2 million compared to AUD 4.5 million a year ago. Underlying EBIT was AUD 4.5 million compared to AUD 1.6 million a year ago. Underlying profit before tax was AUD 3.5 million compared to AUD 0.7 million a year ago. Underlying profit after tax was AUD 3.2 million compared to AUD 1.1 million a year ago. Underlying earnings per share was 1.07 cents compared to 0.4 cents a year ago. Net debt was AUD 20.0 million compared to AUD 26.2 million a year ago.
The board is confident that the company's current momentum will be maintained and that its strategy is appropriate to deliver continued earnings growth. Based on current indications, it is anticipated that the second half results will be above the same period last year and that fiscal year 2016 profit before tax (PBT) will be in the range AUD 12 to AUD 14 million, considerably ahead of PBT for the prior corresponding period of AUD 6.2 million (AUD 8.7 million underlying).
Gale Pacific Limited is engaged in manufacturing technical fabrics used for consumer and commercial applications. The Company's operating segments include Americas (AMR), Australia / New Zealand (ANZ), and Developing Markets (DEV). The Company offers retail and commercial products through its brands, such as Coolaroo, ZONE Interiors, GALE GUARD and GALE Pacific commercial. Its retail product lines, which are marketed under the Coolaroo brand include items, such as shade fabrics, shade sails, outdoor blinds, synthetic turf, screening, umbrellas, gazebos, outdoor blind range, exterior window furnishings, weedmat and mulchmat. Its Zone Interiors brand is used for marketing indoor blinds. Its GALE GURAD brand provides reusable face mask with antimicrobial treated fabric. Its GALE Pacific commercial brand provides knitted, coated, and advanced polymer fabrics for agricultural, architectural, industrial, horticultural and mining applications.
Gale Pacific Limited Announces Consolidated Earnings Results for the Six Months Ended December 31, 2015; Provides Earnings Guidance for the Second Half and Full Year of Fiscal Year 2016