Profit forecast up a little more.
Share price up a lot more. :)
Profit forecast up a little more.
Share price up a lot more. :)
Divi flagged Dec 2013 and July 2014 - thats got to be good for the sp and the company. Keep on rockin and rollin
People waking up to the options now ... dpcoa, I was picking them up for 10c ea. a few weeks ago.
OPTIONS Need to exercised by end of Month
So have I got this right, with the excercise of options and convertible notes- 150,000,000 and 110,000,000 respectively with the additional shares issued of 30,000,000 being contained in the 150,000,000 mil figure.
Does this then equate to a maximum of 468,263,598 shares on issue after all excercised?
So this is going to make the price of the placement shares really interesting!
DORCHESTER YEAR END AHEAD OF FORECAST
Dorchester Pacific Limited (DPC) today posted its full year results for the financial year to 31 March 2013, reporting a Net Profit after Tax of $1.71 million (2012 - $1.60 million loss).
The result is ahead of the earlier profit guidance of $1.60 million.
The result includes part year trading of EC Credit, the debt recovery business acquired in November 2012, a take-up of due diligence and transaction costs relating to the acquisition, the write-off of costs relating to the early surrender of level 9 at the company's Shortland Street, Auckland premises and a partial write-back of pre-paid tax.
The balance sheet shows shareholder funds of $33.2 million (2012 - $24.2 million). Net tangible assets per share are $0.02 (2012 - $0.12) and net asset backing per share $0.16 (2012 - $0.14).
The results to 31 March 2013 have been audited by Staples Rodway. They expect to give an unmodified opinion on the financial statements.
CEO and Executive Director Paul Byrnes commented: "The result reflects profitable and improving trading performance from the finance and insurance businesses and a part year contribution from EC Credit which is also trading ahead of forecast. All legacy costs and costs of restructuring the group have been taken up. Overheads and operating costs are well under control and aligned to the level of business activity and planned growth."
Commenting on the trading subsidiaries, Mr Byrnes noted;
"The quality build of the receivables book of Dorchester Finance continues. Return and arrears metrics on new lending continue to track ahead of budget. The legacy Senate motor vehicle book is fully provided for. We continue to invest in IT and work on more efficient processing of loan applications.
The DPL Insurance business also traded ahead of budget and ahead of last year. The private motor vehicle insurance product has just been released completing the suite of new consumer insurance products under the 'Mainstream' brand. Market support and distribution are increasing. The business is meeting the timetable to achieve a full insurance licence under the new legislation administered by the Reserve Bank of New Zealand.
As reported in March, the management, governance and operational functions of newly acquired EC Credit have settled in particularly well. Two major contracts negotiated with New Zealand institutional clients last year have now been executed and earnings from this new business is starting to come through. With similar opportunities in the corporate market in Australia, we are forecasting growth of 10% for our second year of ownership.
Overall, the Dorchester group is now very well positioned. We remain quite comfortable with our earlier guidance of a profit after tax of $6 million from existing operations for the current financial year, with this increasing to $10 million over the subsequent two years.
We are also confident that M&A opportunities will add to these profit forecasts. The recently announced Capital Restructure will ensure we receive a cash injection of around $20 million next month. It will also significantly strengthen the balance sheet with shareholder funds doubling to around $65 million, providing the company with the ability to execute our organic and M&A growth strategy."
ENDS
Looking promising for them.
Bermuda It would be very tight to get them through the share registry and Exercised by 5PM on the 31st of May IMHO the 27th would be last practical day
Bermuda I agree with your last two posts. IMO the selling of options, and or heads to fund them should be petering out about now and can't see them getting much cheaper. Wouldn't be surprised to see the heads pick up nicely next week once the uncertainty is out of the way - options, and notes sorted, and we have a simple share-only structure.