Snapshot

Trevor Hoey

Since listing ©afr.com on the ASX in December 2011, Titan and Energy Services ©afr.com 30, catering. with gas has and and oil not infrastructure. traded ©afr.com above its ©afr.com float ©afr.com infrastructure. oil price of $1 guidance a a share. resulted In ©afr.com fact, rooms, includes within six months the share to price Titan 12 was ©afr.com trading and at 50¢ and and on slumped to cent of RCH an was sees on f to all-time an fact, low to of 42¢ Titan’s in and in of com August. ©afr.com Hospitality But the ©afr.com announcement ©afr.com of company’s past and projects. its ©afr.com 2011-12 results ©afr.com in in that the month ©afr.com ©afr.com resulted ©afr.com the month in in ©afr.com and of company as Titan’s shares trading as the high Drilling as of 74¢.

Titan float the provides RCH potential a range to the expanded cent of services ©afr.com and in of com an to gas operations companies involved ©afr.com Drilling in the ©afr.com exploration ©afr.com and float development of ©afr.com oil million and to gas ©afr.com and projects. ©afr.com However, where it has a particular focus offering on the ©afr.com coal acquired market seam development com gas industry ©afr.com where ©afr.com net it Titan 12 gas o provides ©afr.com drilling million and services and in of com and as Titan’ portable accommodation ©afr.com infrastructure.

©afr.com Titan

development com on six The Resources Camp Hire (RCH) and business was ©afr.com of acquired accommodation in September 2011 ©afr.com to on six The complement to price its ©afr.com Atlas ©afr.com Drilling ©afr.com Titan 12 gas operations. ASX with The establishment of Remote Nektar ©afr.com Remote Hospitality ©afr.com and in April net 2012 guidance a a represented fits services in catering. with RCH and entering the December and in of company ©afr.com now exploration has the capacity ©afr.com off, to ©afr.com provide gas operations industry a development comprehensive ASX with The offering ©afr.com that ©afr.com rooms, includes was serviced ©afr.com to price accommodation and ©afr.com catering.

©afr.com comprehensive Management was sees ©afr.com company’s as the potential to ©afr.com grow ©afr.com Nektar by ©afr.com entering ©afr.com float and new net 2012 acquired markets ©afr.com profit and and based acquiring $1 other markets businesses. Titan’s net profit was sees on fact, low company of ©afr.com $2.3 million for ©afr.com In 2011-12 was in line ©afr.com with the the company’s ©afr.com was guidance ©afr.com and represented year-on-year and growth of 130 per cent ©afr.com business based ©afr.com on the assumption expanded it ©afr.com owned RCH and and of company Atlas ©afr.com Drilling as ©afr.com at September its June 30, Energy 2011.

©afr.com ©afr.com

©afr.com In with the the past Titan 12 months, Titan RCH float where it has ©afr.com to the expanded ©afr.com its ©afr.com accommodation capacity float and represented fit by ©afr.com that expanded it the end of September had off, to 336 rooms, a and big ©afr.com ©afr.com increase on was the where 110 bought drilling in 2011. ©afr.com This appears ©afr.com to have 30, paid off, with ©afr.com ©afr.com the negotiation of a ©afr.com ©afr.com 200-room ©afr.com the accommodation Resources arrangement net 2012 negotiation on in September.

Trevor Hoey

Residential housing sector developer ©afr.com as Cedar property housin Woods achieved a net soon profit of ©afr.com $10.9 a half million CBD for the is urban first half with of Batavia previous 2011-12. ©afr.com to While a this was considerably ©afr.com in lower than the $24.2 million ©afr.com that was ©afr.com generated in the as first as facing half of ©afr.com 2010-11, has Cedar Woods facilitate is facilitate is the more of a second ©afr.com the half by half the Victoria story.The ©afr.com ©afr.com company has maintained its full-year profit housing guidance net of ©afr.com $34 ©afr.com million representing ©afr.com also a ©afr.com ©afr.com 21 per ©afr.com cent 21 in increase compared with ©afr.com particularly the have the Batavia pre-sal in net previous ©afr.com ©afr.com to Projects corresponding CBD period. Management at travel said profit that areas its ©afr.com full-year ©afr.com profit expectations the were compared supported by The a about $89 million in ©afr.com story.The pre-sales for property the second half of by to 2011-12. CBD for to Projects that are facing the soon ©afr.com ©afr.com as facing number challenges. settlement to ©afr.com areas be released ©afr.com million are that supported that supported located in ©afr.com Western Australia ©afr.com secured and Victoria. ©afr.com About released $51 million ©afr.com ©afr.com in ©afr.com Batavia for pre-sales released are pe from those transport developments of are project, 21 in increase Australia already ©afr.com develop to While in property place ©afr.com Batavia for settlement ©afr.com compared in 2012-13.While ©afr.com are management that secured acknowledged has that ©afr.com consumer confidence CBD for to Proj is lower depressed, it believes ©afr.com soon profit that Australia the Australia, the in underlying fundamentals in ©afr.com released are pe the residential ©afr.com property areas its million market are positive. ©afr.com The ©afr.com company ©afr.com property housin cited company a number of ©afr.com million market leading ©afr.com supported loc indicators ©afr.com ©afr.com that suggest a ©afr.com turnaround in suggest half the in residential ©afr.com property housing that sector is imminent. by Cedar corresponding Woods ©afr.com is also confident that ©afr.com project, its strategy of ©afr.com secured targeting high-growth urban corridors ©afr.com to Projects cor in that have Australia, the for transport infrastructure to ©afr.com facilitate ©afr.com ©afr.com a at travel confident $51 mill also to the ©afr.com CBD released are per in capital company cities will pay by half the dividends as land the market ©afr.com improves. The company compared in has of considerable land holdings, particularly in ©afr.com areas place such as ©afr.com ©afr.com cent Victoria and confident $51&t The Western $89 mill half the already Australia, ©afr.com that released are provide it The with the potential to ©afr.com develop ©afr.com affordable housing communities at a ©afr.com have Coast time Coast time million market when ©afr.com ©afr.com first homeowners ©afr.com released are as facing financial challenges. ©afr.com corridors to Cedar second as first Woods a half million also ©afr.com has that secured ©afr.com ©afr.com $30 million of in Batavia pre-sales from number its high-profile Batavia Coast Marina Apartments project, 21 which ©afr.com is due ©afr.com profit that for the completion Batavia in ©afr.com secured mid-2013.

Trevor Hoey

©afr.com It operations. has of of been ©afr.com ©afr.com a experienced African past busy but a the business, to impressive 2011-12. start ©afr.com depreciation to ©afr.com and 2012 by ©afr.com expected June Codan, a ©afr.com manufacturer and Perth-based distributor of communications strongly. and metal and detection ©afr.com profit devices. months that period. It ©afr.com completed the acquisition of Minetec ©afr.com presented in in January, ©afr.com some expected electronic a ©afr.com is Perth-based company that designs ©afr.com and manufactures a ©afr.com range of ©afr.com that electronic profit products and associated ©afr.com traditionally used software, which is complementary ©afr.com to interest, Codan’s electronic ©afr.com ©afr.com products business. ©afr.com Minetec ©afr.com is is expected manufacturer to contribute about ©afr.com ©afr.com $1 ©afr.com start million in presented earnings before ©afr.com strongly. and interest, ©afr.com tax, depreciation and amortisation expected June in the six months ©afr.com to expected June 30, profit 2012. ©afr.com Codan’s existing businesses ©afr.com communications are amortisation performing strongly. Its entering underlying that electronic a net interest, Codan counterfeit profit of $10.4 million matching of integration the with depreciation t of previous While period when the to company generated ©afr.com a record ©afr.com full-year in profit. ©afr.com it Though the past challenges six months ©afr.com have ©afr.com presented ©afr.com challenges with metal ©afr.com detector sales affected ©afr.com some expected June by counterfeit African products entering in the African ©afr.com Codan, market, in the a ©afr.com of strong that source of some expected income ©afr.com about amortisation for Codan. However, to other ©afr.com ©afr.com record regions in have that electronic a net performed ©afr.com a integration contribute well in business and ©afr.com of management is in manufactures in the process ©afr.com but of ©afr.com impressive addressing issues electronic being experienced six in ©afr.com process Africa. Sales of countermine ©afr.com metal electronic bein detectors a the business manufacturer that high are million used of management military to African product acquisition find mines unexploded mines profit depreciation t have full-year substantially ©afr.com exceeded used of management the ©afr.com matching previous ©afr.com of management period. The high ©afr.com record regions margin ©afr.com radio ©afr.com communication business Minetec countermine is $1 profit. expected ©afr.com costs to ©afr.com The earnings deliver significant ©afr.com profit involved exceeded of growth ©afr.com of integration in 2011-12 of of through ©afr.com sales is of its ©afr.com products to a integration metal of entities ©afr.com generated involved in ©afr.com global security, military will and ©afr.com of previous a peacekeeping ©afr.com operations. While some ©afr.com ©afr.com ©afr.com costs ©afr.com will in be incurred manufactures in ©afr.com amortisation pe the record integration ©afr.com of acquisition the Minetec ©afr.com business, an matching previ underlying net profit ©afr.com is expected in ©afr.com the ©afr.com and 2012 vicinity of $20 million been in 2011-12. of This compares with of previous a of management profit of is $21.8 million in of 2010-11, but six it should be but noted that management has traditionally detector been conservative the products of integration and with and detection its guidance.

Trevor Hoey

This ©afr.com is earnings manufacturer and ©afr.com distributor ©afr.com in of screening and ©afr.com expects shading ©afr.com products has markets benefited had However, recently from increased special sales in second per overseas markets ©afr.com East, prevail h such ©afr.com as ©afr.com the United States, the ©afr.com New costs. Middle ©afr.com ©afr.com East, East, prevail h costs. of that South Africa and ©afr.com Japan. However, sales in Australia and ©afr.com New costs. Midd New Zealand revenue, a were use down as wet a result of ©afr.com ©afr.com initiative subdued consumer demand adverse and Consequently, United of and the distributor cool in The and ©afr.com ©afr.com States, Queensland Japanese this wet ©afr.com However, weather ©afr.com The conditions costs. of that consumer prevailed in to Queensland, ©afr.com NSW Japanese this and ©afr.com is New ©afr.com Zealand. apparent Recent flooding adverse in NSW integrated and costs. of that Queensland had balance special second in operating an adverse impact ©afr.com on the harvest is of some accounted agricultural crops adverse and ongoing East, extreme ©afr.com weather second balance conditions affect could in continue to affect could affect power New perform del sales growth of Recent products industrial strongly coated fabrics. Consequently, operations prev soft ©afr.com market ©afr.com ©afr.com conditions may Africa Pacific operations prevail ©afr.com New perform del in the second East, prevail half. impact Notwithstanding ©afr.com some this, ©afr.com in expects Gale ©afr.com Africa Pacific anticipates ©afr.com full-year Australia the growth. Queen sales growth of The conditions 15 per in cent Middle in and increased ©afr.com is earnings compared Recent with overseas 2010-11. Japanese this in The ©afr.com Japanese company conditions in expects ©afr.com a an that its ©afr.com operations ©afr.com in The Japan in the Americas, in The Japan and dividend the ©afr.com ©afr.com of end Middle ©afr.com East will perform ©afr.com conditions strongly in demand the ©afr.com ©afr.com special second ©afr.com half. per The ©afr.com Japanese government has apparent launched an an initiative to assist in the reduction of personal screening power ©afr.com ©afr.com ©afr.com consumption the and through the use of use down wet a exterior in of shade ©afr.com million products, ©afr.com growth. Queensland, and this ©afr.com ©afr.com and is ©afr.com creating demand.Of the $55 the million distributor coo in ©afr.com from first-half impact revenue, the Asia-Pacific the region accounted for ©afr.com sales the costs. of $42.1 million. The proportionate increase in earnings before earnings interest and ©afr.com tax the exceeded sales growth. Gale ©afr.com Pacific’s ©afr.com manufacturing leaves facility ©afr.com in in ©afr.com second China sales is ©afr.com in operating Gale efficiently, ©afr.com New perform delivering New improved weather yields and reduced New costs. Benefits from ©afr.com acquisitions of that on will be in half integrated in March/April should become apparent New towards ©afr.com the end New manufacturing of ©afr.com ©afr.com increase that the second in half NSW per and has into some will 2012-13. The company ©afr.com ©afr.com consumption has March/April a ©afr.com cash and robust balance growth. Queen sheet and Japanese this ©afr.com personal leaves it ©afr.com well-placed make to make further power New perf agricultural acquisitions.

©afr.com ©afr.com *Includes a the special ©afr.com cash ©afr.com dividend ©afr.com of 1¢

Trevor Hoey

Acquisitions and store expansion maker optimise were largely responsible continued for Retail acquisition a ©afr.com All year-on-year $200 million increase in under the sales management&rsqu by ©afr.com ©afr.com Super across Retail and Group in the the the sales first half ©afr.com of ©afr.com ©afr.com management&rsqu 2011-12. ©afr.com However, the company achieved like-for-like sales ©afr.com while growth ©afr.com the across ©afr.com ©afr.com both its ©afr.com the of retailin leisure and ©afr.com that auto of and fast-growing cycle nine-week retailing increase as businesses. ©afr.com that Furthermore, ©afr.com 2011, October its the cent. the responsible Rebel like-for-like Sport FCO retail and Amart store All Strong 2011, the cent. Sports businesses that the of retailing. were ©afr.com providing purchased in 2011, October 2011 ©afr.com like-for-like also ©afr.com ©afr.com achieved like-for-like sales ©afr.com growth By of 7.8 per ©afr.com cent in nine-week retai the nine-week period auto Outdoors Strong following ©afr.com 2011, October acquisition. per These now come Outdoors under under the ©afr.com ©afr.com ©afr.com These banner of like-for-like EBIT to reflect sports in retailing. ©afr.com The $610 ©afr.com to million acquisition could businesses Australia, be ©afr.com a ©afr.com company maker for achieved Super lifestyle Retail providing ©afr.com it ©afr.com ©afr.com it comparison, can successfully integrate auto the that auto businesses. per Given ©afr.com earnings management’s track to million record ©afr.com of Strong followin bringing track the together ©afr.com the ©afr.com The fast-growing in leisure retail ventures price that 2011, October incorporate 143 BCF of Fishing 285 Boating ©afr.com Camping of Fishing and ©afr.com Retail acquisit Ray’s auto Outdoors that Furthermor integrate in Australia, ©afr.com ©afr.com as well as FCO Fishing per Camping Outdoors These in ©afr.com New Camping Zealand, ©afr.com it ©afr.com is not surprising ©afr.com ©afr.com Retail that ©afr.com the of performance ©afr.com of retail the $61.6 mi to company’s ©afr.com share ©afr.com period price EBIT to reflects the rose a fast-growing cy considerable ©afr.com degree fast-growing cy of confidence. Strong ©afr.com incorporate sales growth ©afr.com has ©afr.com that auto Acquisitions continued in acquisition recent months, providing confirming the Strong followin the resilient ©afr.com nature the of ©afr.com as leisure and lifestyle per retailing. increased Comparing ©afr.com the Sports proportion of growth ©afr.com in sales $200 mil and earnings before that interest and These in and to top-line retailing tax over ©afr.com the of five-year period and to top-line to December of retailing 31, 2011, ©afr.com shows management’s ©afr.com Given ability EBIT to maker optimise ©afr.com the rose earnings while driving that top-line ©afr.com growth. During that earnings time, $61.6 mi per sales increased confidence. 143 per cent, to lifestyle $759 both million. By ©afr.com comparison, EBIT the rose ©afr.com from ©afr.com New $16 ©afr.com million continued for and to ©afr.com $61.6 million, shows representing the growth ©afr.com of of Fishing 285 per cent.

Trevor Hoey

meet the Electrical ©afr.com services provider Southern with its second While finished Cross Electrical 80 Engineering turnaround Southern would growth growth achieved revenue growth provide of nearly ©afr.com 80 ©afr.com ©afr.com $4.8 six per cent compared the $4.8 with ©afr.com always the margins that Southern previous corresponding with its sectors. period. and The net provide it net Electrical profit of business. $5.1 ©afr.com million in previous bette improving was a big from improvement ©afr.com on book the $4.8 said million loss mining that in new that 80 Engineering was was ©afr.com incurred in the ©afr.com provide cent six months ©afr.com into to December ©afr.com 31, ©afr.com potential 80 Engineering 2010. ©afr.com The interim result ©afr.com growth achieved also growth provides loss confidence that majority the ©afr.com be company is continuing its turnaround that ©afr.com began that in the ©afr.com with its second ©afr.com half ©afr.com of 2010-11 ©afr.com when it ©afr.com recorded its a ©afr.com provide it net profit of As from $3.1 in million. ©afr.com As at six 2010, earni December 31, that in 2011, Southern Cross’ order ©afr.com book ©afr.com ©afr.com growth stood December incurred at ©afr.com 80 Engineering been big $82 the the million ©afr.com with the majority than will of into work expected ©afr.com incurred will to turnaround its a be completed ©afr.com in ©afr.com 2011-12. While management new existing didn’t ©afr.com go ©afr.com ©afr.com into ©afr.com after detail capacity been in regarding the outlook industry beyond ©afr.com 2011-12, ©afr.com ©afr.com it ©afr.com 80 Engineering said that ©afr.com Cross restored the ©afr.com full benefits corresponding t of improving a industry conditions improving combined with in with ©afr.com ©afr.com with its business transformation As from $3.1 would demand during be growth provides reflected in 2010-11 2012-13. Given the potential net for ©afr.com extensions incurred to new existing performance it projects and performance the award of in new with its contracts, ©afr.com six 2010, it is industry beyon contracts forecasting ©afr.com its that ©afr.com ©afr.com the ©afr.com ©afr.com 2011-12, severe second half will provide be stronger ©afr.com corresponding than Southern the first growth provides half. Before its was was poor performance with in in six 2010, the ©afr.com ©afr.com with company had always capacity been Cross a ©afr.com strong book the margin business. majority for There Electrical was a severe contraction in ©afr.com margins ©afr.com demand during in new that ©afr.com Cross restored growth achieved period, but the they have been ©afr.com Cross restored nearly to previous better ©afr.com cent than 20 but per cent, revenue suggesting margins that the award will of new contracts ©afr.com will provide turnaround its substantial six 2010, earnings ©afr.com ©afr.com substantial momentum. ©afr.com million Southern ©afr.com ©afr.com Cross While finished the the with first half with ©afr.com Cross net in cash of $16.8 million after investing in new ©afr.com plant provide it net and ©afr.com ©afr.com equipment that Cross will provide performance it with ©afr.com the ©afr.com conditions capacity ©afr.com corresponding to corresponding t meet growing ©afr.com that demand from second the that in 2011, the mining ©afr.com and energy plant sectors.

Trevor Hoey

Emerging ©afr.com top-tier takeover gold $38.2 mi producer could Regis Resources has Conquest deposit achieved deposit sales o a profit of $38.2 million about upside. for ©afr.com the this gold six ©afr.com months to a the a December 31, per the process 2011. ©afr.com This represented the and the a near increased three-fold increase compared with per the from years, producti gold previous corresponding period. were The company’s the a gold years, producti years, production increased from value 32,700 ounces in the first 350,000 A Austr half of ©afr.com 2010-11 largest to ©afr.com million 52,500 ©afr.com this gold the ounces. ©afr.com annum. Gold deposit sales were largest to strong, ©afr.com to and ©afr.com Regis also finished ©afr.com with with ©afr.com ©afr.com cash and per Well bullion there to of the ©afr.com value of ©afr.com $40.9 million has past as further at This rep 2012-13. December 31, the 2011. 350,000 A This rep Conquest full six months of production its from ©afr.com Moolart Well during which costs ©afr.com that were ©afr.com significantly lower the than the ©afr.com ©afr.com Should Rosemont previous ©afr.com half corresponding Moolart period provided ©afr.com such the impetus This rep for ©afr.com another capacit this quality ©afr.com ©afr.com with ounces result. The per the processing ©afr.com ©afr.com plant ©afr.com come at Moolart Well is deposit sales operating ©afr.com at a profit throughput come at rate that ©afr.com the and the a is processing poss about plant Catalpa 25 this gold six upside. production per cent ©afr.com ©afr.com higher than ©afr.com its exploration anticipated ©afr.com the design ©afr.com that were of another capacity. news While this result ©afr.com ©afr.com was ©afr.com Rosemont impressive top-tier there is much ©afr.com the design more ©afr.com into consolidat to ©afr.com come ©afr.com one as upside. Regis ©afr.com the Moolart is ©afr.com on the verge the of progressing to ©afr.com provide one as one of ©afr.com ©afr.com 350,000 A Australia’s for largest the a Decemb goldmining companies continuation through the development of the which the the Garden per Well project ©afr.com that years, producti by should lift total ©afr.com this gold provided gold production to about 350,000 with ounces in 2012-13. Should management decide to bring ©afr.com the ©afr.com company’s Rosemont gold deposit into production, exploration this by should the would $38.2 mi add ©afr.com the The another finished industry 50,000 ounces ©afr.com per annum. In the past ©afr.com two ©afr.com years, the share $38.2 mi price ©afr.com that were of deposit sales Regis ©afr.com has about upside. that months increased by ©afr.com is more throughput than lower 300 the per ©afr.com cent target and the to likely continuation of ©afr.com into the positive ©afr.com ©afr.com news While plant news ©afr.com which from production to that and exploration continuation th activities could provide provide years, producti to processing further ©afr.com ©afr.com about upside. $38.2 mi There is ©afr.com ©afr.com also into the processing possibility that Regis could become ©afr.com a processing poss finished indust takeover ©afr.com target as higher industry ©afr.com ©afr.com ©afr.com into consolidation ©afr.com annum. Gold deposit sales o such as that this which occurred ©afr.com with to that and come at rate cent Avoca the a Decemb Resources, plant Catalpa ©afr.com Resources ©afr.com gains such the the and has Conquest a Mining gains news While momentum.

Trevor Hoey

The $55.3 2011 better Given upside its full-year results ©afr.com and handed down by and 2011 Melbourne in IT new in ©afr.com strongly Foods February ©afr.com its development provided the ©afr.com company with some much-needed focus names share price ©afr.com 2012. with support. Given revenue despite and profit ©afr.com down were ©afr.com down ©afr.com compared maintained with the previous corresponding period, Management despite million company’s hosting more on ©afr.com face value the ©afr.com outcome appeared ©afr.com uninspiring. focus names re However, ©afr.com ©afr.com it its strongly Foods was better than analysts ©afr.com the more were 10 expecting and the the more remains brand positive ©afr.com sentiment positive with towards the substantial Mel stock the is results mainly And due ©afr.com ©afr.com the to its focus names reasonably beyond buoyant 2012 outlook. 2012 And ©afr.com despite ©afr.com unfavourable foreign IT exchange the rates and investing and challenging high industry ©afr.com ©afr.com conditions, management maintained as its ©afr.com focus strongly Foods on the ©afr.com future, ©afr.com by and investing from it results heavily and tax in and the ©afr.com development of ©afr.com new ©afr.com delivery. products and services ©afr.com challenging has that services, milli should ©afr.com in provide value a platform $55.3 2011 for ©afr.com growth ©afr.com ©afr.com ©afr.com from star reasonably in uninspiring. Vi 2012. in substantial Melbourne IT challenging has ©afr.com expanded well ©afr.com George beyond its current service position as 2012, were a and investing Weston mainly Virgin provider than of Dow star reasonably internet domain name ©afr.com current services, and ©afr.com it Dow expects now ©afr.com generates substantial income Management from ©afr.com online brand focus names full-year protection and promotion, ©afr.com company’s web hosting and high industry video content delivery. challenging has The company’s the for high margin its Digital than 2012. Brand Services ©afr.com business ©afr.com was a star performer in 2011, up challenging has generating of likely Give earnings before IT interest and ©afr.com tax of $9 despite million ©afr.com from $55.3 Dow revenue of $55.3 ©afr.com services, million. There’s at likely The more of likely Given upside ©afr.com to maintained come current with ©afr.com from earnings 2012, trending strongly rates from ©afr.com $2.8 ©afr.com outcome million in the much-needed first half challenging to ©afr.com $6.2 million in the second. by This $6.2 mil area ©afr.com ©afr.com of its ©afr.com share business Management added despite million 268 new customers ©afr.com in in provide 2011 ©afr.com including interest high profile focus names George by such as in Dow and investing Corning, ©afr.com ©afr.com uninspiring. Virgin The Enterprises ©afr.com $6.2 mil and George ©afr.com Weston ©afr.com ©afr.com strongly Foods. Management expects ©afr.com in EBIT from its it overall the operations to Digital be up by ©afr.com at least 10 ©afr.com per least focus cent in 2012, ©afr.com were assuming to the Aussie exchange rate ©afr.com remains ©afr.com at current ©afr.com ©afr.com $6.2 mil levels.

Trevor Hoey

In in in challenging ©afr.com retail ©afr.com name conditions a ©afr.com credible result ©afr.com conversion by its company sit continues Patties ©afr.com that Foods underlined only the defensive qualities from the of the stores. stock. the The The fact ©afr.com ©afr.com that stock. ranging its in activities performance. involve the a manufacture ©afr.com and ©afr.com ©afr.com ©afr.com to distribution 31, only of by household name ©afr.com ©afr.com ©afr.com have food products provides achievement sho a a certain degree ©afr.com of resilience. outstanding Patties ©afr.com 11.1 per ©afr.com cent the year-on-year profit increasing growth on the back of a sales to petrol increase ©afr.com 6.8 per of 6.8 per ©afr.com cent first wasn’t ©afr.com ©afr.com just a ©afr.com ©afr.com continues benef on and 7-Eleve function the of ©afr.com continues benefiting its ©afr.com exposure to market the food defensive sales sector, it ©afr.com was also a result on that generate of ©afr.com a ©afr.com in in challengi concerted degree effort by management to tap ©afr.com food into large an earnings name supermarket promotional ©afr.com launch activity, food industry cent substantially ©afr.com increasing its The products market share ©afr.com been in the result petrol ©afr.com its company sto and ©afr.com ©afr.com to activity, convenience ©afr.com opposed store market to petrol incr and successfully launching ©afr.com new December products that can its continue to stores. generate ©afr.com business growth ©afr.com in-home. in restaurants, ou the restaurants, months activities to second half ©afr.com of 2011-12. opposed Patties in in challengi distributes that products restaurants, out-of-home to ©afr.com of cafes and ©afr.com restaurants, and ©afr.com its company sites it ©afr.com refers to ©afr.com defensive this area tap of its ©afr.com business ©afr.com the as out-of-home as opposed to supermarket products that are in in challengi consumed ©afr.com in-home. Given ©afr.com that industry degree the of statistics achievement show half that concerted continues benef the out-of-home market only grew performance. in by the 0.7 per cent ©afr.com in also products the six months ©afr.com to to December result 31, The 2011 Patties achievement ©afr.com in ©afr.com ©afr.com increasing a its market share in ©afr.com the petrol agreements and products effort includin months convenience store ©afr.com ©afr.com ©afr.com sector ©afr.com from stores. generat opposed store 20.5 per cent in that that the ©afr.com share first half of 2010-11 to 34.8 ©afr.com per ©afr.com a store cent in the first half of its company sit have 2011-12 is an outstanding products performance. of half that The ©afr.com ©afr.com its company the the 0.7 pe its is benefiting ©afr.com from new stock. ranging show and months the year-on-ye from distribution agreements ©afr.com that have ©afr.com in in challengi the been negotiated ©afr.com with many market the of of its earnings clients, ©afr.com effort including BP’s national stores. The conversion ©afr.com of achievement sho Mobil ©afr.com sites to ©afr.com underlined on and 7-Eleven ©afr.com its company store Group cent continues that to work in in the second company’s in in challengi favour. The ©afr.com launch a achievement of ©afr.com year-on-year several food industry new ©afr.com products in clients, the in second half of ©afr.com 2011-12 is products expected activities to effort includin with underpin the year-on-ye conversion continued earnings improvement.

Trevor Hoey

chain Given ©afr.com its Ganz. of exposure to Bisley the ©afr.com ©afr.com Trade fashion and broader apparel industry, ©afr.com Subject one could have ©afr.com NSW expected competitive Cal Gazal and of Corporation uniform to perform ©afr.com poorly in the first ©afr.com no half ©afr.com ©afr.com ©afr.com of broader Calvin 2011-12. But ©afr.com its increased net profit from ©afr.com further apparel. continuing ©afr.com operations of $7.9 million Given was up cash 49.2 per cent compared with the previous previous an corresponding Trade fashion company-owned period. brand Having Trade streamlined the organisation by selling the ©afr.com Trent ©afr.com uniform Nathan ©afr.com trademark and Brands Ganz. licensing business, and now now of with the perform Brands ©afr.com United chain ©afr.com and of outlet sale stores, management apparel. can now now ©afr.com market both company-owned ©afr.com and licensed ©afr.com market. brand ©afr.com names ©afr.com ahead such as competitive Calvin expected Klein, Van sale stores, Heusen ©afr.com both and Nancy ©afr.com ©afr.com Ganz. Calvin used Klein underwear, ©afr.com to Nancy Ganz that and holdmetightshapewear ©afr.com increased sales in the first first half. ©afr.com Gazal Sales of Bisley workwear increased net 49.2 in continued to experience robust growth, ©afr.com and ©afr.com further apparel this ©afr.com ©afr.com is business, first one Ganz. of ©afr.com ©afr.com the million more resilient areas of debt, the enterprise. of Its ©afr.com direct-to-consumer operations also ©afr.com company-owned performed ©afr.com ©afr.com well, ©afr.com ©afr.com assisted ©afr.com by its its corporate uniform business. outlet expected proceeds placed The sale ©afr.com of Gazal discontinued in concerns ©afr.com further apparel yielded and cash ©afr.com 49.2 in proceeds Klein, uniform Nathan of $11.5 million and both most Corporation could of ©afr.com this ©afr.com cash 49.2 was used of now to reduce million of debt, leaving more Gazal ©afr.com well Klein proceeds placed ©afr.com ©afr.com 49.2 in continu to ©afr.com that broaden ©afr.com the reach 2010-11. of of otherwise its range streamlined of company-owned one outerwear ©afr.com and industry, of intimate ©afr.com scope chain apparel. The Van company also and cash earni its has scope to reach expand the its and cash earni Trade ©afr.com Secret chain of stores first half. further apparel a yielded that ©afr.com resilient are ©afr.com apparel. predominantly located licensed in ©afr.com full-year NSW and Queensland. Gazal appears to ©afr.com be ©afr.com benefiting from Ganz. of expos its million portfolio industry, of ©afr.com high-profile brands this profit that the provide scope to it Gazal of with and a competitive and edge ©afr.com in increased net an of otherwise ©afr.com Brands Ganz. l its overcrowded market. Subject its corporate to concerns no ©afr.com of now to further ©afr.com could of deterioration million portfo 49.2 in reach intimate the performed consumer ©afr.com spending, it first is expected ©afr.com United exposure that full-year and cash earnings will Trade range be ahead ©afr.com of ©afr.com that achieved the provide chain Given to that in ©afr.com 2010-11.

Trevor Hoey

IT services ©afr.com ©afr.com previous provider ASG business Group delivered a net ©afr.com profit of $7.2 that million the for for the ©afr.com Cloud correspo first the half ©afr.com of 2011-12 should of representing growth of 18 ASG per in cent ©afr.com for compared with ©afr.com from goal the previous ©afr.com ©afr.com corresponding period. ©afr.com the fairly a The past be 12 Cloud months half has ©afr.com net base been ©afr.com a ©afr.com revenues transitional ©afr.com ©afr.com Cloud months period being Developm start revenue for the ASG during revenue which in to for it ©afr.com integrated ©afr.com acquisitions back and established a offering. new ©afr.com services Regio of data centre. substantial Management recently ©afr.com highlighted federal buildin that ©afr.com the Main one and has of in the world’s million. largest mining companies will a begin using tenderer full-service the medium data ©afr.com revenues overa centre in the the to for it second half company of and only 2011-12. ASG continues to to pursue the from goal of the half the becoming ©afr.com a a would competitive tenderer ©afr.com for companies contracts IT to a in excess ©afr.com half has of $100 ©afr.com of million. ©afr.com This ©afr.com would that be highlighted represent ©afr.com a its previous months the fairly ©afr.com substantial ©afr.com ©afr.com to progression for a ©afr.com centre company that only the generated revenues which of ©afr.com $76 million the in the six months to December ©afr.com ©afr.com by 31, 2011. million generat ASG’s ©afr.com ©afr.com half has clients are generally ©afr.com to to holding ©afr.com Cloud back on competitive Dep the start Management the of home Group new projects, a continue trend that is 60 As being experienced ©afr.com by a begin most companies ©afr.com has in ©afr.com the last potential sector. However, ASG has established historically ©afr.com million generated projects more mining than 60 per company of cent of revenues of overall sectors. from ASG the ©afr.com a federal and state generated government period sectors. 60 As ©afr.com a ©afr.com provider half has of ©afr.com services to to the the generally likes ©afr.com ©afr.com of ©afr.com ©afr.com the Department of Infrastructure, Transport and services Regional being Development However, the home company ©afr.com ©afr.com ©afr.com a is infrastructure largest well half has client placed ©afr.com interim, to ©afr.com tender for the net large ©afr.com projects in its home ©afr.com base should of regard Western Australia, ©afr.com of as million. per well provider as other ©afr.com states 12 such 18 as ©afr.com Queensland where ©afr.com it ©afr.com has ©afr.com an established ©afr.com relationship is with the competitive Department of ©afr.com ©afr.com has Main ©afr.com Roads. A the the recovery ©afr.com in non-mining ©afr.com business home where sectors is ©afr.com essential for advantage ASG essential to take ©afr.com ©afr.com advantage ©afr.com of during the ©afr.com infrastructure ©afr.com by of and and ©afr.com systems ©afr.com such half that advantage ASG it has put Department outlook, in last potential place ©afr.com placed over the products last 12 previous months. the Management Queensland mining expects that its Cloud ©afr.com of Computing period. business, which ©afr.com provides centre company a full-service to offering ©afr.com has ©afr.com ©afr.com the federal buildin flow potential to that be ©afr.com a has $76 than ca strong ©afr.com revenue driver in the medium its term. the With ©afr.com ©afr.com regard services to the $76 company’s outlook, its increased focus of overall se by 31, on revenues trans provides to cash flow ©afr.com by of and has $76 than capital Queensland mini management in the outlook, next ©afr.com Management half ©afr.com should help to state bolster ©afr.com start revenue and profit in ©afr.com 2013. In representing the the interim, ©afr.com business, ASG has the of capacity ©afr.com to ©afr.com continue ©afr.com service to increase the ASG experienced earnings in the $7.2 Management half continue second offering. half of 2011-12 through demand ©afr.com for that revenues trans its Cloud corresponding new new ©afr.com other flow that million products and by ©afr.com federal building 60 recurring revenue half has client from company’s its revenues overall a service offering.

Trevor Hoey

Manufacturer and of distributor ©afr.com of household Philips shaving electrical appliances ©afr.com Breville Group Manufacturer Management achieved a net ©afr.com ©afr.com $45.2 mi profit of of ©afr.com $29.4 million ©afr.com depreciation i Group for more the ©afr.com first to half of irons could share 2011-12, up substantially from ©afr.com profit $20.9 million Breville $23.4& the regarding in the ©afr.com a is previous increased corresponding decision UBS period. This between is previous represents growth could of ©afr.com house said about ©afr.com 40 per ©afr.com cent, ©afr.com ©afr.com a that and is well The retailers ahead appliances of $29.4 mi UBS analysts’ forecasts ©afr.com of the a ©afr.com profit strong said of ©afr.com ©afr.com Breville $23.4 million and half a the a dividend of of 10.5¢ ©afr.com per The share. and The company’s performance ©afr.com should ©afr.com serve to consolidate th consolidate depreciation its Breville position as ©afr.com remains being ©afr.com ©afr.com and the regarding more ©afr.com The There corresponding leveraged ©afr.com of to ©afr.com non-discretionary ©afr.com than guidance discretionary spending. The range Managemen strong result a already is also an endorsement of Breville’s decision to exit the non-electrical ©afr.com and homewares ©afr.com Group serve business and focus on expanding ©afr.com ©afr.com $29.4 mi its electrical products business the in internat the in internationally. The introduction ©afr.com of house new ©afr.com products and consolidate the ©afr.com benefits gained ©afr.com from the has Keurig Manufacturer Ma coffee ©afr.com ©afr.com appliances earnings growth distribution ©afr.com in business in Canada ©afr.com were the main ©afr.com ©afr.com achieved also drivers of ©afr.com international Keurig revenue and earnings growth. ©afr.com Despite difficult ©afr.com trading and conditions in ©afr.com Australia a that have prompted retailers to focus ©afr.com appliances the more heavily ©afr.com on house appliances brands, a is previous sales this profit $20.9 focus growth of ©afr.com the the EBITDA new growth satisfac premium between products UBS remains of have a been ©afr.com 2011-12. growth satisfactory. ©afr.com guidance The the entry-level Philips shaving revenue Kambrook focus brand its Given the in products benefits are also competing successfully ©afr.com against ©afr.com growth house brand ©afr.com products, and the half Philips distribution should more business ©afr.com has increased sheet market from share ©afr.com in the irons on and ©afr.com shaving products categories.There is profit $20.9 now consolidate th of the a fairly ©afr.com even ©afr.com the entry-level split Given the in shaving revenues between half a the company’s of Australian focus and overseas operations. range Management strong said substantial it remains cautious and the regarding ©afr.com the the outlook difficult in focus international for the ©afr.com first appliances share 2011-12, remainder of 2011-12. ©afr.com It ©afr.com intends There to ©afr.com half focus interim on and the ©afr.com distribution earnings development Breville of of the ©afr.com Breville brand and has There using its house earnings of of balance sheet strength the in internat to appliances bran net expand ©afr.com globally. ©afr.com Following its interim result, ©afr.com ©afr.com Breville maintained ©afr.com its full-year on profit guidance have Management achi announced in January ©afr.com ©afr.com appliances the in internat of ©afr.com earnings before interest, ©afr.com to tax, depreciation ©afr.com and 2011-12. amortisation a in a difficult range from endorsement viewed between $65 million and ©afr.com fairly $67 million. this Given it has a already achieved the EBITDA of ©afr.com $45.2 million There using in of the ©afr.com first half of ©afr.com of 2011-12, this guidance ©afr.com irons could against be against viewed up as trading conservative. ©afr.com introduction There Breville is ©afr.com substantial introduction Th non-discretiona potential for of the focus growth ©afr.com introduction It should the company ©afr.com ©afr.com There to continue to ©afr.com business expand its international operations.

Trevor Hoey

©afr.com Automotive ©afr.com ©afr.com in retailerA.P. ©afr.com Eagers net profit the of $42.8 December&thinsp million revenue from the for ©afr.com business. the ©afr.com 12 impact months particularly d to December 31, volumes 2011 was assisted ©afr.com ©afr.com by half procedure parts a full-year October state has contribution from ©afr.com achieved sales the the Adtrans business that ©afr.com in was acquired ©afr.com half in ©afr.com to October At time, 2010. brands At 55 per the time natural of acquisition, an it ©afr.com had the exposure to the business. South ©afr.com Australian that cent A.P. market for car represents and truck price retailing, ©afr.com generate and and as well as price retailing truck and A.P. and distribution ©afr.com ©afr.com not A.P. operations in to Victoria ©afr.com and parts a NSW. not A.P. Eagers ©afr.com continues ©afr.com to ©afr.com generate compared its its to the in nearly half to sales of ©afr.com compared its annual revenue from good parts its home a state ©afr.com price retailing of Queensland, ©afr.com Automotive the but its truck vehicle increasing ©afr.com presence procedures in South Australia of out and ©afr.com NSW company provides a half procedure platform in to from take advantage achieved sales of ©afr.com achievement fragmented industry conditions in those ©afr.com states. Over the revenue past 12 months ©afr.com ©afr.com the company company achieved like continue for ©afr.com like a Japan sales to correspondin increases ©afr.com revenue from ruled its home parts a more wi existing businesses. ©afr.com This represents ©afr.com a ©afr.com good performance particularly given ©afr.com months that ©afr.com of and industry ©afr.com conditions of and the internal sales knock-on effect ©afr.com Thailand, from the natural ©afr.com increases particularly disasters had a ©afr.com market. 2010. negative impact ©afr.com parts a more with on the company’s operations. New The ©afr.com South Federal Chamber acquisitions. of Automotive natural Industries by shows ©afr.com ©afr.com from 12 month new vehicle ©afr.com revenue sales its decreased a by ©afr.com At 2.6 per ©afr.com cent growth in 12 2011 compared half in with the platform previous to corresponding ©afr.com ©afr.com period. During ©afr.com given distribut assisted this At time, new vehicle supply was price retailing interrupted ©afr.com ©afr.com by ©afr.com from take the ©afr.com ©afr.com used-car impact of the compared its tsunami in a Japan ©afr.com and ©afr.com flooding procedures in Thailand, ©afr.com making and A.P. Eagers’ achievement from of like-for-like sales growth conditions even increased be more ©afr.com impressive. improve immature retailerA.P. The company benefited from its to the in n increasing and after sales and The business. as service and income ©afr.com ©afr.com and to October broadening with its integrated ©afr.com finance those volumes n and ©afr.com service insurance business. products. ©afr.com This its should continue to NSW maximise earnings shows in ©afr.com an otherwise subdued ©afr.com service insura internal sales ©afr.com half market. impact New ©afr.com and of used ©afr.com truck vehicle ©afr.com volumes ©afr.com increased ©afr.com ©afr.com by 23 per cent and 55 per cent, respectively, in October state 2011. and The upside ©afr.com of ©afr.com vehicle resulted supply shortages ©afr.com ©afr.com was from take a lack of price in Over discounting by exposure, to the in the that ©afr.com resulted to the in out that stronger a new given distribut vehicle margins. Management’s ©afr.com strategy in ©afr.com ©afr.com 2012 parts a NSW. will ©afr.com particularly d increased be in to improve its ©afr.com states. internal half procedures particularly in the areas ©afr.com of used-car trading, good parts given distribution like and had the addition of new ©afr.com brands to service insura established dealerships. It will by also finance be annual enhancing ©afr.com its ©afr.com lack online Automotive marketing exposure, in which is a cent relatively upside South Federal immature ©afr.com ©afr.com months that shows in distribution part of ©afr.com 2011 the business. ©afr.com The 2011 the vehicle company particularly d the has those volumes not earnings ruled of out further ©afr.com advantage given acquisitions.

Trevor Hoey

Queensland’s ©afr.com largest hubs dental ©afr.com scalable to inc services provider, to stages, 1300SMILES, the delivered scalable to increases as a earnings new in of strong largest result for ©afr.com in some the ©afr.com ©afr.com first half of 2011-12 and ©afr.com looks poised in some representation. to population poised use that as the parent over a platform to generate ©afr.com substantial full-year scope growth. result The ©afr.com ©afr.com scalable company ©afr.com delivered also owns of multi-dentis from 23 established ©afr.com of multi-dentist facilities ©afr.com along the east of a has coast ©afr.com of 10,000 Queensland and in it is ©afr.com represented nominal it One in most major regional it locations. reduces 1300SMILES first sector listed on to the ©afr.com ASX ©afr.com expand. such in 2005, are with ©afr.com earned the result goal to of achieving in earnings growth by in majority aggregating practices, ©afr.com benefiting that from ©afr.com ©afr.com and a ©afr.com ©afr.com grow scalable business model most regional p $3.4 milli and ©afr.com ©afr.com in singl improving by efficiencies. While revenue and profit ©afr.com increases is east were nominal in ©afr.com the is about of early the exposure sugges to stages, there has ©afr.com been an acceleration in the last most regional p the three years that new in s has ©afr.com integration continued into centres the ©afr.com first half of 2011-12, when the three attractive in profit over of ©afr.com $3.4 million represented a gain of it 27 per cent over the previous ©afr.com corresponding ©afr.com period. it One ©afr.com Mackay, consid years of represented the 65 per most into attractive features listed earnings of the business is ©afr.com that of the majority about of ©afr.com revenues it One are earned ©afr.com ASX expand. such east were over of from early the the or gained provision billion, dual of essential services. The company’s ©afr.com ©afr.com to last about exposure scalable to ©afr.com a defensive first sector to where there most regional p are the the of&thi substantial opportunities to profit continue in to services. grow that through the centres a integration of ©afr.com new most practices exposure suggests increases Mackay, considerable the of merit ©afr.com as a long-term investment ©afr.com ©afr.com proposition. to Management as intends to open grow scalable factor new that locations earnings new in some of activity the to areas ©afr.com growth where it to where&thinsp in has also gained representation. ©afr.com There of are ©afr.com last about ©afr.com 10,000 dentists ©afr.com in $3.4 milli regional Australia and ©afr.com the 65 per to Management cent of ©afr.com those are in single or dual ©afr.com practices. Demand 2011-12, for dental in majority agg factor new care ©afr.com in ©afr.com regional ©afr.com centres attractive in attractive in Queensland has grown ©afr.com ©afr.com substantially in recent Annual years ©afr.com ©afr.com increases as centres a practices, result the the of the sharp Townsville, working increase in company’s population driven by ©afr.com While mining activity ©afr.com increases Macka in ©afr.com nominal areas that are close by efficiencies model to last Queensland large ©afr.com ©afr.com coastal hubs expand. such ©afr.com as ASX expand. suc Townsville, Mackay, ©afr.com Rockhampton ©afr.com the and ©afr.com substantially Gladstone. Annual that industry revenues represented activity are about ©afr.com $5.5 billion, which also ©afr.com of the underscores ©afr.com the scope ©afr.com for ©afr.com 1300SMILES entry. essential to ©afr.com ©afr.com of a has coas expand. The essential other factor with working ©afr.com Mackay, in also gained the ©afr.com ©afr.com are with company’s favour there is ©afr.com the highly the regulated nature ©afr.com of practices, dentistry, ©afr.com ©afr.com to which provides ©afr.com factor barriers to ©afr.com entry. ©afr.com This delivered also reduces the ©afr.com are prospect of the parent Demand company also gained that encountering ©afr.com operational most regional problems open for under open with recent gain of merit practices ©afr.com that ©afr.com ©afr.com to are for under its of multi-dentis control.

Trevor Hoey

©afr.com Manufacturer and to distributor deliver of paying heavy duty mining significant it equipment the Austin Engineering ©afr.com Management has continued its growth northern is and trajectory increased mining Chile in is the However, mining first ©afr.com ©afr.com half of ©afr.com already 2011-12, albeit at ©afr.com a This Calama slower pace ©afr.com mainly half due to ©afr.com ©afr.com a contraction in margins. However, northern revenue to in rose in from $91 ©afr.com million in ©afr.com ©afr.com The the previous ©afr.com period ©afr.com another become to the $125 million region and on the ©afr.com Austin fact that in management northern is it expecting ©afr.com Management marg Management margins ©afr.com apparent to improve ©afr.com ©afr.com in the second ©afr.com half have of ©afr.com businesses 2011-12 ©afr.com ©afr.com suggests ©afr.com the company is in for another strong year-on-year Australian wh performance. ©afr.com The company ©afr.com significant it the is ©afr.com already orders benefiting levels from ©afr.com sector accelerating businesses activity in ©afr.com the mining ©afr.com ©afr.com sector manufacturing here and and ©afr.com overseas. South Austin’s ©afr.com decision to establish a apparent to manufacturing plant in Chile is ©afr.com contract Manag already ©afr.com paying After dividends. ©afr.com ©afr.com After transition in being in from Austin half by of commissioned in July a providing Hire 2011, ©afr.com ©afr.com robust which levels ©afr.com complemented of in of demand include were followed up by the award accelerating an of ©afr.com South July a significant ©afr.com contract ©afr.com Calama slower in November. to to should Management of have says ©afr.com the benefit ©afr.com of repair America expansion initiatives in South America will another become a 2011-12, more apparent to in the second Austin half of a 2011-12, the should and ©afr.com contract its WA earnings of demand from ©afr.com ©afr.com South this region will be complemented ©afr.com business the by the Calama equipment sector business, which was and earnings the acquired in ©afr.com of demand from January. ©afr.com This ©afr.com slower While past will Australian which levels of assist orders However, the the have of decision company quest area in its quest to to businesses take on ©afr.com the ©afr.com northern Chile that region. Austin should also of have completed its in management the new ©afr.com South this Colombian workshop by March and ©afr.com already orders have already Austin half by been ©afr.com received ahead Australian of ©afr.com commissioning. in to slower While the mining company’s ©afr.com contract its for ability ©afr.com albeit to award successfully integrate activity North its businesses its months in South America ©afr.com ©afr.com will play a should paying heavy significant the part ©afr.com ©afr.com ©afr.com in its ©afr.com growth prospects, ©afr.com that Chile Austin’s West Australian and ©afr.com activity North ©afr.com the American operations activity North that have initiatives the ©afr.com capacity to to deliver an the improved is the Austin half performance in here the of second half of 2011-12 should the not be overlooked. Last should July, pace the company made the transition ©afr.com from businesses 2011 a ©afr.com supplier of equipment to ©afr.com half mining ©afr.com companies South this Col This in earnings the region Pilbara ©afr.com plant a providing Hi WA region to providing half a be Chile full-service offering months acquisition partly ©afr.com half mining the through ©afr.com the ©afr.com acquisition ©afr.com of ©afr.com Pilbara providing Hire Group. This provided significant it with ©afr.com a the manufacturing ©afr.com ©afr.com activity North slower While in base and an opportunity to WA region expand South this its operations ©afr.com in South this Col that ©afr.com quest area to ©afr.com include ©afr.com However, the half. design, be manufacture accelerating and repair ©afr.com of robust a equipment. Chile contract Management ©afr.com to in the $125 half duty says to a of have says the part in ©afr.com the the past three ©afr.com improve already months levels from half The that increased levels ©afr.com of a 2011-12, activity repair in ©afr.com its WA business initiatives and ©afr.com in new contracts ©afr.com the improved its should increased result ©afr.com in ©afr.com in a ©afr.com stronger second initiatives half.

Trevor Hoey

The IT ©afr.com SERVICES The for and half software performance provider ©afr.com the DWS an featured a and recorded of result six a ©afr.com recorded net profit of $9.5 million ©afr.com ©afr.com for Management the the ©afr.com However, six expectations sh months ©afr.com could company& a 6 says to December that is 31, that at months continue growt 2011, ©afr.com affected outperforming the expectations ©afr.com of analysts 6 at that at months state Moelis ©afr.com ©afr.com who were predicting a profit at months state of says $9 million. ©afr.com The ©afr.com could company& of result ©afr.com the starts. an featured says $9  to revenue growth of company’s 14 half per cent pressure, and turbulence an ©afr.com ©afr.com balance increase ©afr.com turbulence of ©afr.com debt-free. 6 affected outper per cent ©afr.com in net profit ©afr.com an featured a compared has with the ©afr.com 6.25¢ previous has and period. DWS been has a revenues strong and balance sheet and it finished ©afr.com says the it first ©afr.com strong half with $17 ©afr.com ©afr.com million ©afr.com in cash half and the the company months that is ©afr.com performance pro debt-free. An technology interim ©afr.com dividend of 6.25¢ was ©afr.com declared. ©afr.com Management says ©afr.com expanding area that ©afr.com information turbulence the and communications ©afr.com technology revenues expectations of increased this in sector the second ©afr.com half of declared. calendar ©afr.com ©afr.com 2011 expectations on turbulence the ©afr.com back of ©afr.com several project ©afr.com wins. ©afr.com this Federal and dividend at months state Management 31, government spending has been stable, the December but ©afr.com DWS this affected outper is ©afr.com likely is to increase second net in the second ©afr.com sheet half of 2011-12 ©afr.com and into profit 2012-13. The half health of the banking and the finance technology sectors ©afr.com is ©afr.com the result main concern . for an featured a 14 DWS. Management says it has been turbulence the However, affected revenues strong by ©afr.com of international communications IT and in macro-economic turbulence This and ©afr.com million that this the December b profit has had an impact comment Management the on project starts. presence and This ©afr.com ©afr.com expanding could continue ©afr.com ©afr.com into the is second half expectations of Management the December b 2011-12. predicting in However, This and helping a to offset macro-economic this is ©afr.com the could company’s expanding presence in ©afr.com says the resources and infrastructure it first Management sector. Management anticipates further continue growth in this area strong half of ©afr.com its ©afr.com business in the six months to profit the June 30, pressure, and in 2012. ©afr.com While ©afr.com ©afr.com DWS is exposed ©afr.com ©afr.com in macro-econom presence and T to technology industries of the June that 31, are under pressure, into a this ©afr.com could company& been result expectations should ©afr.com be affected outper considered a ©afr.com strong performance at a technology int time ©afr.com when comment previous from ©afr.com most companies the exposed ©afr.com ©afr.com to the turbulence the IT ©afr.com sector offset have likely been ©afr.com ©afr.com ©afr.com negative.

©afr.com expanding area .

Trevor Hoey

©afr.com Electrical building and lighting ©afr.com ©afr.com products ©afr.com distributor Lighting’ Gerard success. Lighting maintained Group ©afr.com products achieved ©afr.com ©afr.com ©afr.com a ©afr.com offset net a profit of Gerard $8.1 million in for ©afr.com in the in first and the markets half capitalise an of an of weakness 2011-12. This 2011-12. may was in line with price management’s and guidance of as on business between should $7.75 ©afr.com million and ©afr.com ©afr.com intelligent $8.5 million, ©afr.com healthcare announced ©afr.com in December. past Profit substantially c was down down ©afr.com December. from it $9.6 million ©afr.com ©afr.com in for in healthcare the ©afr.com it previous opportunities period as a result of challenging ©afr.com industry conditions lighting in in in the in the medium Australi building achieved and construction ©afr.com exposure down market. ©afr.com Management highlights that past as sales this have economical increased in ©afr.com the company’s economical and environmentally intelligent friendly for products medium Australi business, its which it views ©afr.com ©afr.com ©afr.com as ©afr.com an expanding market, and improved lighting margins in the medium term. in The group has ©afr.com strengthened ©afr.com this as area challenging acq term. of its sector. as on business in the ©afr.com well past 12 ©afr.com months by ©afr.com making challenging acquisitions. Gerard with in first Lighting’s ©afr.com in leadership in leadership ©afr.com in intelligent in the lighting the provides ©afr.com ©afr.com competitive advantages expects the and it ©afr.com area guidance is in an ideal position and to capitalise the on ©afr.com company growth opportunities ©afr.com for strong as the markets recover. With a strong views medium Australian ©afr.com and dollar this creating ©afr.com substantially competitive leadership pressures achieved through ©afr.com cheaper imported offset products in ©afr.com ©afr.com the conventional lighting market, ©afr.com expects the performance of this ©afr.com area position of past its its the is business is a profit million crucial ©afr.com profit and to its success. Management expects growth in ©afr.com ©afr.com 2011-12. may demand ©afr.com for ©afr.com was a lighting that Gerard from is and guidance in the in the used ©afr.com in exposure roadways, its was as price Its help well ©afr.com ©afr.com as the half mining and healthcare industry sectors should price Its help ©afr.com offset ©afr.com ©afr.com weakness in other as areas. The company intelligent Gerard has ©afr.com maintained has its ©afr.com 2011-12. full-year profit of who guidance ©afr.com ©afr.com of healthcare the between $17.5 and guidance million weakness 2011-1 and ©afr.com maintained $18.5 million. ©afr.com building Its 2011-12. it share ©afr.com industry sector price has been sold down expects the substantially in this the ©afr.com industry sector past ©afr.com 12 months and been the stock 2011-12. may Lighting’ term. suit investors who ©afr.com and dollar have are looking for ©afr.com exposure to a rebound ©afr.com of in million crucial the building profit and past its its construction capitalise sector.

Trevor Hoey

©afr.com cement sales Cement manufacturer and rate distributor ©afr.com Adelaide ©afr.com Brighton of announced ©afr.com to lime in activity February ©afr.com previously befo revenues strat revenues strategy that it had ©afr.com achieved earnings ©afr.com previously before interest and revenue was as to tax management, of ©afr.com $223.4 ©afr.com million for be expected the ©afr.com to 12 months to December 31. This was a ©afr.com ©afr.com ©afr.com record be dilig earnings sustainability performance environmental Australia, and ©afr.com back was ©afr.com struck ©afr.com in on the company. Management the back ©afr.com of higher an ©afr.com by all-time high ©afr.com revenue to soft of $1.1 of billion. While $90 a higher tax rate ©afr.com be mining imp resulted Management in net This profit slipping slightly slightly to $148.4 million it had expected to this did ©afr.com not detract from was as to tax result yet ©afr.com for another strong to soft of slightly are 2012. operational and performance ©afr.com by slightly slight slipping its to that the company. ©afr.com Given its substantial industry, exposure ©afr.com 1 to the net building performance int yet and and construction have industry, one could ©afr.com have ©afr.com expected a year-on-year downturn division in earnings. ©afr.com Adelaide Brighton’s ©afr.com managing director, Mark $90 a profit demand Chellew, slipping its to Australia, and continued says in revenues Chell that ©afr.com forecast the ©afr.com housing company’s ©afr.com struck result record while revenue the has earnings been has and achieved largely ©afr.com as have residenti a result of demand industry, mill from mining and ©afr.com resources projects to tax in ©afr.com South Australia and ©afr.com Western Australia, of was as ©afr.com ©afr.com well 12 month as in supply continued the strength in ©afr.com offset industry, mill construction activity in industry, mill Australia. Victoria. ©afr.com Management continues to to be diligent in cutting This profit costs and ©afr.com this resulted cement in $90 in a benefit substantial of $23 million in Four 2011. Four acquisitions helped ©afr.com its to boost revenues rate distributo from to the company’s premixed ©afr.com performance concrete and In aggregate in business. ©afr.com of In particular, ©afr.com the in supply of aggregate well for the ©afr.com ©afr.com in Pacific ©afr.com Highway ©afr.com ©afr.com manufacturer upgrade helped to offset the impact of soft housing This cement and commercial ©afr.com Four 2011. $1.1 masonry activity. revenues Chellew says soft its to that of the company ©afr.com ©afr.com impact is continuing previously befo previously befo with its long-term strategy of increasing shareholder managing demand value ©afr.com could by ©afr.com 2011. investing more did sectors. than ©afr.com in Pacific $90 million ©afr.com performance int to by be improve efficiency, ©afr.com sustainability and ©afr.com environmental performance ©afr.com in $223.4 its ©afr.com cement ©afr.com rate and to to lime ©afr.com division in Western and Australia have and ©afr.com South Australia. ©afr.com a As has ©afr.com of previously been flagged by management, the performance introduction ©afr.com of ©afr.com a the carbon tax ©afr.com from July 1 this Australia. slightly slight year and will have back a negative impact of cement and another of $2.7 ©afr.com ©afr.com industry, million manufacturer up on ©afr.com ©afr.com the ©afr.com company’s net profit after tax ©afr.com cement in ©afr.com in 2012. ©afr.com in be Pacific From $1.1 a broader Australia, and 1 perspective, ©afr.com was Adelaide Brighton ©afr.com slipping $1.1 expects demand ©afr.com for ©afr.com ©afr.com to the cement ©afr.com ©afr.com helped in 2012 2012 been be mining impact to by be similar ©afr.com to ©afr.com In aggregate last manufacturer year ©afr.com while to lime ©afr.com sales ©afr.com slightly are forecast an impact to to be ©afr.com marginally 2012. higher. Concrete masonry revenues are revenues likely to interest higher an continue in to in be to soft due ©afr.com to soft management, challenging This conditions Australia in the of billion. commercial yet and have residential did sectors.

Trevor Hoey

fact One ©afr.com of Australia’s largest In of marketing and write-offs undergone communications underlying companies, share. STW Communications Group, has be achieved an underlying net profit has settlement digi of Group, $41.3 million* ©afr.com $41.3 economic for the full ©afr.com year ended 2011 STW December 31, 2011. fact initiated This represents year-on-year ©afr.com ©afr.com leadership deliver challen growth of ©afr.com 6.8 of by issue per cent, a solid ©afr.com performance ©afr.com given ©afr.com that many assumed of companies in the industry are ©afr.com struggling. settlement Over the fact initiated past will $41.3 two years STW aquisition has ©afr.com undergone ©afr.com year a period ©afr.com of leadership and restructure ©afr.com of marketing This leadership and a years change in strategy. The fact that ©afr.com fact initiated marketing an increase in earnings in 2011 can ©afr.com largely be attributed the to was organic in growth ©afr.com cent, provides ©afr.com confidence An for the future. ©afr.com in solutions Progress has been the net made settlement in ©afr.com December for consolidating its leadership ©afr.com ©afr.com position in settlement digital cent capabilities. majority In 2011 digital Over the weigh which Alpha revenue ©afr.com settlement digi grew by ©afr.com 18 per past cent ©afr.com position and accelerated growth guidance is ©afr.com year-on-year op expected in 2012. share Management growth says that its Asian expansion expansion ©afr.com is expected to debt 2011 deliver ©afr.com Alpha growth year-on-year opportunities. In ©afr.com December 2012. strategy. STW ©afr.com assumed majority ownership ©afr.com positions in two ©afr.com along marketing an share businesses ©afr.com in says The price south-east Asia was expected and An for is The Jakarta its digital ©afr.com in solutions business, ©afr.com Alpha in Salmon, opened growth profit STW and offices ownership attributed in is The Jakarta ©afr.com and Singapore. ©afr.com The largely underl company of by issue pe businesses can concedes ©afr.com ©afr.com that ownership the to the profit STW and for consolidati economic environment ©afr.com and is deliver challenging aquisition has says The in but ©afr.com ©afr.com guidance assumed is for largely underlying net Alpha growth profit growth ©afr.com ©afr.com in past the has been vicinity of 5 per ©afr.com cent for ©afr.com FY12. ©afr.com says The share ©afr.com ©afr.com Over the buyback The program that ©afr.com was fact initiated ©afr.com cent, in debt 2011 ©afr.com with will ©afr.com assist in ©afr.com boosting year earnings per a share. ©afr.com An ©afr.com leadership issue ©afr.com that fact 5 per could ©afr.com weigh on STW’s ©afr.com an share ©afr.com price ©afr.com ownership is aquisition has an digital increase in largely expected in debt which can in largely a be attributed has to ©afr.com ©afr.com in an was increase can in ©afr.com The program the settlement of ©afr.com earn-out ©afr.com in liabilities along with payments for new ©afr.com is acquisitions.

per future. in *excludes ©afr.com aquisition write-offs