MARKET ANNOUNCEMENT
21 November 2008
ZINTEL REPORTS SOUND HALF YEAR
Zintel Group Ltd (NZAX: ZIN) today reported revenue of $20.21m for the half
year ended 30 September 2008, an increase of 6.6% on last year''s first half
revenue of $18.96m. The net profit before tax for the first half year was
$1.86m.
"This is a sound result. Profitability in the first half of this financial
year is ahead of last year''s second half result of $1.50m but is slightly
down on last year''s strong first half net profit result of $1.99m," says Nick
Gordon, Chairman of the Board. "For the full year ending 31 March 2009 we
expect a profit result which is similar to last year''s full year result which
will be pleasing in the current economic environment."
Profit before tax of $1.86m to 30 September 2008 resulted in unaudited net
profit after tax of $1.23m, with cash flow from operating activities of
$1.90m. The Group has no debt and retains significant cash reserves of $6.88m
at 30 September 2008.
The Directors have declared an interim dividend of 2.00 cents per share plus
imputation credits, resulting in a gross payment of 2.9851 cps, with a record
date of 28 November 2008, payable on 12 December 2008. The dividend is
greater than prior payments yet sufficient cash remains in the bank for
potential investments.
The Group continues to investigate acquisition opportunities to strategically
broaden the capability in the Group. In the first half year Zintel acquired
the Commspec business from Downer EDI Engineering Limited and Zintel''s
acquisition activity continues in both Australia and New Zealand.
ENDS
Background of Zintel Group Limited
Zintel Group Limited (www.zintel.co.nz) comprises two businesses,
Communications and Enterprise, which provide businesses with a broad range of
telecommunications and ICT services from Toll free and Toll services to
integrated communications solutions based around Aastra (formerly Ericsson
Enterprise), Alcatel-Lucent, GMT Workforce Management and Juniper data
networking products. Established in 1995 and listed on the NZAX in November
2003, Zintel now employs over 120 staff with offices in Sydney, Auckland,
Wellington, Christchurch and Dunedin.
For further information:
Peter Revell, Zintel Group Managing Director on +64 21 912 993
End CA:00173184 For:ZIN Type:HALFYR Time:2008-11-21:11:50:42