SOO reported they were expecting a net profit of between $1.5 and $1.6m for 08/09 in early June. Net profit was $119,000 in 07/08. Figures reported today include a net profit of $1.8m.
Further growth appears to be a gimmee IMO taking into account, potential Government policies initiatives, global product pricing movements, technology enhancements and currency exchange rates.
SOO sales were up 46% in the June quarter. Sales revenue from operations increased 46pc to $8.61m, compared with the corresponding period in the 2008 year. They have invested in growing its stock level to $6.8m from $5.26m at the end of the third quarter.
A true turnaround story evident by their maiden dividend.
GOE Price at posting:
9.0¢ Sentiment: LT Buy Disclosure: Held