Note the following announcement and the run-up ever since.........mmmmmmmmmmmmm
Item: Media Release / Company Announcement ASX Code: CLH Date: 24 June 2005 Pages: 2 Collection House results to be “in line with expectation” Collection House Limited revenue for 2004-05 is expected to exceed $124m (a 6% increase over the previous year) delivering a full year after tax result in the range of $12m -$13m (up from$10.6m). Chairman, Dennis Punches, issued the forecast today after a scheduled Board meeting. He said that the outcome was pleasing and in line with company expectations. “We indicated last year that the best growth would come once again in the purchased debt segment, and our revenue there is going to be up by around 25%,” he said. “We continue to follow a simple strategy that has now delivered ten successive half years of profit since we listed,” he said. Mr Punches said the Board considered a number of investment issues at its meeting. “Rapid Ratings continues to make good progress in the USA and Wall Street markets. Therefore, in line with our strategy of maximising return on investments, the Board has committed an additional $3 million over the next two financial years to further develop Rapid Ratings Pty Ltd as a global commercial ratings agency,” he said. “The Board is considering future options for Rapid Ratings, including the possibility of a float,” Mr Punches said. He said the Board also discussed the strategic direction of another subsidiary, ABR (Australian Business Research), and future public listing of the credit information business is also a possibility. Mr Punches said that the consideration of a listing for both subsidiaries is at a very preliminary stage and no specific time-line has been set. Collection House will make further announcements as and when decisions are made on these issues. Collection House Limited will announce its full year result on 24 August 2005.
CLH Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
