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

Does TikTok Really Make Sense For Microsoft?

Does TikTok Really Make Sense For Microsoft?

In this guest post, Alex Watts (pictured), DDB Sydney Head of Social, discusses his thoughts on the potential Microsoft/Tik Tok acquisition and whether the deal actually makes any sense for Microsoft… Trump is calling for a ban, China’s calling it a “smash and grab,” but the real question is – does buying TikTok really make sense for Microsoft? TikTok is […]

QMS Sport Rebrands As Media Tech

QMS Sport Rebrands As Media Tech

Following QMS’ acquisition of TLA Worldwide (Aust) last year, QMS Sport has today announced it will transition to the TLA brand and formally become a business unit of TLA. ‘Media Tech’ is officially the new name for what was formally known as QMS Sport, and will operate alongside TLA’s existing business units that span the […]

Design Studio Nightjar Launches Publisher Platform For Sneaker Freaker

Design Studio Nightjar Launches Publisher Platform For Sneaker Freaker

Sydney-based design and technology studio Nightjar have launched a new website for Sneaker Freaker. Founded in 2002, the street culture magazine is the first and only international footwear magazine. From its roots as a DIY-style fanzine to today’s global coverage, its print pages and online platforms document every colab, custom, limited edition, retro reissue, Quickstrike, Hyperstrike […]

Former Haystac Head Of Strategy Launches PR Toolkit For Small Businesses

Former Haystac Head Of Strategy Launches PR Toolkit For Small Businesses

Haystac’s former National Head of Strategy, Haylie Marchant (pictured) has launched The PR Toolkit – an online resource and DIY PR platform educating and empowering small and medium sized businesses to do their own PR. Offering a mix of free resources and easy-to-use how to guides, the one-stop-shop for DIY PR covers media relations, media […]

Malcolm Turnbull & Janine Allis Elevate BIPOC Voices In Australia With New Series

Malcolm Turnbull & Janine Allis Elevate BIPOC Voices In Australia With New Series

One Love Australia has launched a new social change initiative that will see a raft of high profile individuals, including former Australian Prime Minister Malcolm Turnbull and Boost Juice’s founder, Janine Allis, take part in a video interview series set to turn racism on its head. The initiative – titled #ShareThePlatform – will see these […]

Omnicom’s Resolution Digital Named As Google Honours Agency Of The Quarter

Omnicom’s Resolution Digital Named As Google Honours Agency Of The Quarter

Resolution Digital has been awarded the Australia’s Agency of the Quarter award in the prestigious Google Honours program. The Honours program for 2020 recognises the achievements of the very best performance marketing agencies and providers across Australia and New Zealand. The program consists of 3 quarters, 43 agencies and over 500 individuals; measured on account […]

Perth Agency Firefly Adds Six New Accounts & Launches New Media Arm

Perth Agency Firefly Adds Six New Accounts & Launches New Media Arm

Firefly has brought on six major new clients as it continues to expand, adding new media planning and buying arm to its business. Managing Director Andrew Mathwin (pictured) said the independent agency, known for clients such as Air New Zealand, Buy West Eat Best, West Coast Eagles and Mrs Mac’s Pies, had a strong year […]