QMASTOR Announces Record Half Year Profit up by 187% - Mining Technology | Mining News and Views Updated Daily
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QMASTOR Announces Record Half Year Profit up by 187%

The Board of QMASTOR is pleased to report a record half year profit of $1.07 million for the half year period, which ended on 31 December 2008, a substantial increase of 187% on the corresponding period.

Revenue was $4.97 million, up 138% from the half achieved in 2007. Revenue was close to the achievement for the whole of the 2008 year (98%).

“QMASTOR has delivered another great result this half with strong revenue growth driving record net profit and cash generation. Strong growth in the bulk terminal port sector and the release of QMASTOR’s new horizon advanced planning and scheduling (APS) product were key contributors,” the managing director of QMASTOR, Mr Trent Bagnall, said today.

Dividend

Directors have declared an interim dividend to shareholders of 1c per share.

Outlook

“QMASTOR is on track to deliver on its full year guidance earnings of 3.25-4.0 cents per share. QMASTOR acknowledges the current commodity market conditions are putting our customers under serious cost pressures. QMASTOR has been advised that a number of projects that we are involved in are likely to be delayed or put on hold as mining companies battle their capital management positions. We expect however that this will have little to no impact on the 2009 earnings per share forecast,” Mr Bagnall said.

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