STW announces “credible” half year report card

STW announces “credible” half year report card
SHARE
THIS



STW’s CEO Michael Connaghan has described today’s financial results for the first half of the year as a “credible and hard fought result”.

STW posted an increase in revenue of 7.9% to $176 million, compared to the $163.2 million during the same period in 2012. EBITDA stood at $35.7 million, up 6.9%, while net profit after tax was $19.3 million, was up 7.2%. STW posted an interim dividend of 3.3 cents was per share, while the earnings per share of 4.9 cents was down 2.6%.

Connaghan said the result was achieved in the “new normal” of an extremely sluggish economy, and with a backdrop of political uncertainty and accelerating structural change in the industry.

"Despite these factors, we delivered solid growth in the first half. The momentum across key indicators of our business gives us encouragement that full year guidance of circa 15% NPAT growth and mid-single digit EPS growth remains achievable,” he said.

Connaghan went on to add:

“The diversification that underpins STW’s business model once again enabled a resilient result. The majority of our businesses performed well and to expectation.

“Our first half result would have been even stronger had an expected acquisition been completed earlier than has been the case, and had three mid-sized businesses not underperformed, dragging down the overall result. That deal is now done, the underperformers are back on track and we move in to the second half with confidence.

“There is no escaping though from the reality of really tough trading conditions and recalibration of business models. The growth we achieved in the first half was solid, and we remain committed to delivering the growth in the second half needed to achieve guidance.

“I am encouraged by significant progress and success in key pillars of our business. Our new business success in the first half has been outstanding. Across our portfolio, STW companies have won more than their fair share of the biggest opportunities in the market.

"Simply put, our businesses are competing for the best work, and winning."

Please login with linkedin to comment

Latest News

Dan Gregory’s Five Tips For Effective Collaboration
  • Opinion

Dan Gregory’s Five Tips For Effective Collaboration

In this guest post, CEO of The Impossible Institute, Dan Gregory (main photo), says if you’re lost for inspiration then two heads – even 100 heads – are always better than one… The implementation of effective collaboration leading the generation of results has been well documented, but there is one example that comes to mind – this […]

Opinion

by B&T Magazine

B&T Magazine
Poll Reveals What Journalists Fear the Most
  • Media

Poll Reveals What Journalists Fear the Most

A global poll of journalists from 52 countries has identified declining ad revenues as the profession’s number one concern. Staff cuts came second and the dreaded “fake news” came in at third. The poll was conducted by German press organisation Impressum and asked respondents the three questions below: In one word, what defines journalism in your […]

by B&T Magazine

B&T Magazine
Aussie Adland’s Brightest Come Together To Crystal-Ball Trends In Creative & Marketing
  • Advertising
  • Marketing

Aussie Adland’s Brightest Come Together To Crystal-Ball Trends In Creative & Marketing

A new Aussie study – based on the views of some of adland’s brightest – has concluded that data and technology is bringing agency creatives and marketers far closer together. The study, titled Joining The Dots: The Future Of Creativity, was conducted by PwC and Google and included the opinions of 15 industry thought leaders […]

by B&T Magazine

B&T Magazine
Aussie Study: Brands With An Excellent Reputation Can Charge Almost 10% More
  • Marketing

Aussie Study: Brands With An Excellent Reputation Can Charge Almost 10% More

Consumers are willing to pay more for products that not only have the features they want but also are delivered by businesses with a good reputation, a new Australian study has found. The study (which you can read in full here) was done by researchers at the University of Technology Sydney (UTS), puts a price on reputation […]

by B&T Magazine

B&T Magazine
P2P Transport Limited Becomes Australia’s Largest Taxi Advertising Network
  • Media

P2P Transport Limited Becomes Australia’s Largest Taxi Advertising Network

The acquisition of Nonstop Media by ASX-listed P2P Transport Limited will create Australia’s largest taxi advertising network. Adflow, P2P Transport’s advertising division, will take control of all acquired media assets to complement its growing fleet of digital rooftop signage, vehicle wraps and in-vehicle entertainment products across Australia. The acquisition grows Adflow’s footprint substantially by adding […]

UNSW Partners With Adobe To Transform Its Digital Ecosystem
  • Marketing
  • Technology

UNSW Partners With Adobe To Transform Its Digital Ecosystem

Computer software giant Adobe has announced a partnership with UNSW Sydney that will see Adobe Experience Cloud implemented across the university’s global digital ecosystem. The partnership with Adobe is part of a five-year overhaul of UNSW’s digital ecosystem designed to boost its reputation as a top 50 global university through improved integrated marketing capabilities and […]