now wakes up

Record Profit and Maiden Dividend
Solco continues its corporate and business turnaround to post a record profit of $1.79 million for the fiscal
year 2008/2009 and deliver a maiden unfranked dividend of 0.25 cents per share. The dividend is expected
to be paid on 30 September 2009 for registered shareholders as of 2nd September 2009
Financial highlights for the year:
• Group revenue for 2008/20009 was up 68% to $27.779 million (compared to $16.509
million for 2007/2008) primarily reflecting business growth in its wholesale distribution
business of PV and related products;
• Group net profit for 2008/2009 was up significantly to $1.8 million (compared to a modest
profit of $0.1 million for 2007/2008.”
Solco’s net profit performance has shown a dramatic and positive forward growth curve since the
corporate turnaround lead by David Richardson (now major shareholder and Non Executive Director), with
assistance from Steven Cole (as Chairman). This commenced during 2006/2007 after the Company posted a
record loss of shareholder funds of $5.89 million in 2005/2006.
“This is a very satisfying outcome” said Mark Norman CEO “and a credit to the whole Solco/Choice Electric
team”
“Solco is a company committed to delivering shareholder value and returns. The Board, which also includes
Ian Campbell, the former Federal Government Environmental Minister, takes delight in being in such a
financial position, in terms of profit and cash availability, to pay a maiden unfranked dividend of 0.25 cents
per share to its loyal shareholders” agreed David Richardson and Steven Cole.
The Company’s Annual Report which was released today contains further information on Solco and its
operations.
About Solco
Solco’s main operations are in the wholesale and distribution of solar power, small wind and pumping
solutions around Australia and overseas, supplying a combination of imported and locally-sourced
products. We cater for corporate and government clients directly, and residential customers through our
distribution network. Our brands include GridPower™, Solco Choice Electric, Solar Energy Systems, Sun Mill
™, Remote Power, Solartech Genius ™ and Solco Manufacturing Systems.
For further information about this announcement please contact Mark Norman on 08 9334 8100
FY 2008/09 Actual FY 2007/08 Actual
$000 (Audited) $000 (Audited)
Revenue 27,779 16,509
NPAT 1,791 119
Cash at Bank 4,539 3,481
Earnings per share 0.90 cents 0.06 cents