milton corporation, page-2

Company Strategy
Miltons objective is to invest in a long-term diversified portfolio that includes companies, trusts, fixed interest securities (including mortgages) and real property. MLT seeks investments in well-managed companies and trusts with a profitable history and the expectation of dividend growth. Portfolio return is benchmarked against the All Ordinaries Accumulation Index. The Company is not a speculative investor and does not sell its assets to increase profit for distribution to shareholders. All capital profits that arise from the sale of investments are reinvested As at 30 June 2007, MLTs portfolio was worth $1.8bn, with the top 20 shareholdings accounting for over 60% of that. At that date Miltons five largest holdings were WBC, NAB, CBA, BOQ and CHO. The portfolio, which comprises 93% of listed equity and 7% of real property, liquid assets and other, is heavily weighted towards financial services and the banks, with the banking sector representing 32.6% of the portfolio and diversified financial companies representing 15.5%. Other sectors and their weightings include: Industrials (9.7%), Materials (11.2%), Consumer staples (5.1%), Real estate (4.7%), Consumer discretionary (5.6%). Cash comprised 5% of the portfolio. Milton Corporation reported NPAT up 35.9% to $85.7m for the year ended 30 June 2007. Revenues from ordinary activities were $72.3m. With underlying earnings per share increasing from 78.5 cents to 91.0 cents per share, the board declared an increased fully franked final dividend of 43 cents per share which will be paid on 4 September 2007, bringing the full year dividend to 81 cents per share, an increase of 15.7 per cent over the previous full year dividend. Net operating cash flow was $71.8m compared to $58m last year. Strong economic conditions both in Australia and offshore have provided an excellent platform to increase earnings and pay increased dividends.
Company Details
Milton Corporation Limited
Trading Status: Trading
Former Names:
ACN:000 041 421
Chairman:Robert Millner
MD:Frank Gooch


4th Floor, 34 Hunter St
Sydney,NSW 2000


Tel:(02) 9233 4166
Fax:(02) 9221 5317
http://www.milton.com.au


Dividend Reinvestment? No



Shareholder discounts: Yes
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Investor relations phone:--


Principal Registry:
Name: Link Market Services Ltd
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Sydney South, NSW 1235
Telephone: 02) 8280 7111
Fax: (02) 9287 0303
Internet: www.linkmarketservices.com.au
Email: [email protected]


Auditors: Moore Stephens
Banker: NAB
Solicitor: Church & Grace