31 August 2017 | |
Appendix 4E and Annual Report | |
The Directors of Site Group International Limited ("Site") are pleased to announce the release of:
The attached annual report contains details of the achievements of the group over the last financial year. | |
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Media and Investors Vernon Wills Managing Director and CEO +61 (7) 3114 5188 vern.wills@site.edu.au | Craig Dawson CFO +61 (7) 3114 5188 craig.dawson@site.edu.au |
Principal & Registered Office: Level 4, 488 Queen St, Brisbane QLD 4000 |
t. +61 7 3114 5188 (ASX: SIT)
ABN: 73 003 201 910 www.site.edu.au
Appendix 4E Preliminary Final Report to the Australian Stock ExchangeName of Entity | Site Group International Limited |
ABN | 73 003 201 910 |
Financial Year Ended | 30 June 2017 |
Previous Corresponding Reporting Period | 30 June 2016 |
Results for Announcement to the Market
$'000 | Percentage increase /(decrease) over previous corresponding period | |
Revenue and other income | 45,702 | 32% decrease |
Profit / (loss) after tax attributable to members | (50,466) | Decrease to loss |
Net profit / (loss) for the period attributable to members | (50,466) | Decrease to loss |
Dividends (distributions) | Amount per security | Franked amount per security |
Final Dividend | 0.0 cents | 0.0 cents |
Interim Dividend | 0.0 cents | 0.0 cents |
Record date for determining entitlements to the dividends (if any) | Not applicable |
Dividends
Date the dividend is payable | Not applicable |
Record date to determine entitlement to the dividend | |
Amount per security | |
Total dividend | |
Amount per security of foreign sourced dividend or distribution | |
Details of any dividend reinvestment plans in operation | |
The last date for receipt of an election notice for participation in any dividend reinvestment plans |
NTA Backing
Current Period | Previous corresponding period | |
Net tangible asset backing per ordinary security | (0.13) cents | 3.64 cents |
Other Significant Information Needed by an Investor to Make an Informed Assessment of the Entity's Financial Performance and Financial Position
Refer attached annual report
Commentary on the Results for the Period
The earnings per security: The current year result is a loss per share of (9.50) cents as compared to the prior year earnings per share of 1.84 cents. The underlying result excluding discontinued business and non-recurring items was a loss of $4.99m on revenues of $29.23m. This result was impacted by the VFH distraction which required substantial commitment of group management and associated expenses. These various costs are estimated to be in excess of $3m. Without the VFH segment distracting the business, the group result would likely have been close to breakeven. Since June 30 numerous cost saving measures have been identified and implemented. This includes reducing overheads, residual VFH expenses and key direct costs in the core business. Management have announced expectations for the coming financial year which includes strong revenue and margin growth. This has been re-affirmed by some early contract wins in both the offshore and domestic business. For further review of results please refer to the Directors report on page 8 of the attached annual report. |
Returns to shareholders including distributions and buy backs: Not applicable |
Significant features of operating performance: Refer to the Directors' Report |
The results of segments that are significant to an understanding of the business as a whole: Refer to Note 22 to the Accounts (Operating Segments) |
Discussion of trends in performance: Refer to the Directors' Report |
Any other factor which has affected the results in the period or which are likely to affect results in the future, including those where the effect could not be quantified: Refer to the Directors' Report |
Site Group International Ltd. published this content on 31 August 2017 and is solely responsible for the information contained herein.
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