TPC

[croesus]

Tag Pacific have issued 2 notices this morning... relating to a buy back and also a general update..... hopefully my years of patience with this company.. will be justified.
disc hold a few.

[roaddog]

32c:D[8D]dudes



TAG MAKES MAJOR GAINS - DIVIDEND DECLARED Tag Pacific Limited (ASX: TAG, NZX: TPC) has released its Preliminary Final Report for the year ended 30 June 2004, high lighting the major gains that the Company has made. Revenue has increased by 83% to A$53.552 million and after tax profit has lifted to A$3.017 million from close to break even in the previous year. This equates to earnings of 4.6 cents per share (A$). The Company is also pleased to announce a dividend for the first time inrecent years. The dividend, to be paid in September, is 0.5 cents per share(A$) franked to 60%. Commenting on the result, Tag Chairman Peter Wise said that the 2004 year was pleasing for a number of reasons : "Firstly, our operating subsidiaries ended the year in better shape than when the year started" Mr Wise said. "The inclusion of M+H Power Systems Pty Limited as a 56% owned subsidiary had a significant and positive impact. M+H Power did really well." The closer working relationship that has developed between Potter Interior Systems Limited and Comprador Pacific Pty Limited began to show benefits inthe last quarter. Potter had a reasonable year and is well on the way to improving its profitability, however Comprador still has a way to go to reach a satisfactory result. A major contributor to Tag's result was the increase in value of Tag's holding in publicly listed IBA Health Limited. Tag holds some 13.3 millionshares in IBA which had a carrying value of 15 cents per share at June 2003.At June 2004 the carrying value was 35 cents per share (A$), reflecting themarket price at that time. Further gains in the IBA share price following theannouncement of the Eastman Kodak and IBA alliance in late July 2004 have notbeen brought to account. During the year Tag also increased its investment in technology group UniqueWorld from below 10% to an equity accounted investment of 27%. Tag ChairmanPeter Wise is enthusiastic about the investment and management : "UniqueWorld's future prospects are really quite exciting. Management isanticipating continued revenue growth and the list of contract serviceclients already reads like a veritable Who's Who. In addition, there areexpectations for future revenue from Microsoft based packaged solutions thatUnique World Software has developed", he said. Commenting on the health of the Tag Group, Mr Wise said that he wasparticularly pleased with the cash that had been generated by the operatingactivities : "We ended the year with cash of A$5.4 million and with a wellstructured balance sheet. Total equity has risen considerably and at balancedate if one notionally factors in subsequent gains in the IBA share price, itboosts total equity and the NTA even further. I think it's also interestingto note that we only have negligible intangible assets on our balance sheet." Since balance date, M+H Power Systems Pty Limited has issued a SubstantialShareholder Notice disclosing a 6.16% interest in publicly listed IceCorporation Limited (ASX: ICE), a licensor and manufacturer of switch moderectifier designs and related electronic sub-components. Commenting on future prospects, the Chairman noted that the Tag had a number of new initiatives it was pursuing. "I expect the operating activities to deliver us a better result in 2005 and together with our equity investments and other initiatives I look forward to 2005 being another solid year," Mr Wise said. Dividends No dividend has been recommended, declared or paid to members of Tag Pacific Limited in respect of or during the year ended 30 June 2004. Subsequent to year end, the Directors have declared a final dividend of 0.5cents per share, payable on 17th September, 2004. In accordance with Australian Accounting Standards, dividends declared after the balance sheetdate are not included in the financial statements for that period passed.Hence, this dividend has not been provided for in the 30 June 2004 financial statements.

[troyvdh]

croesus,I also have held for a while after comments made from a mate about 20 yrs ago (?)..would you care to elaborate.Also spoke to a joker at direct b. who said something was impending re recent investments blah blah.

[croesus]

Points
to note....IBA valued in accounts at I think 34c *13.3m...currently IBA are in the low 60c region.

ICE will they stop at 6%..???

Substantial cash.

Possibility of listing some trading arms down the track

[croesus]

Currently on a P/E ratio a bit below 7.

Ignored by anaylsts and brokers

[kiwi_on_OE]

Does anybody know if the $2.66M gain from IBA revaluation included in the profit announced?