Media releases are provided as is by companies and have not been edited or checked for accuracy. Any queries should be directed to the company itself.

Defence ICT Contracts Force Profit Upgrade

  • 02 August, 2004 10:43

<p>The following Company information will be sent to the ASX on MONDAY AUGUST 2</p>
<p>SECURE DATA, VOICE &amp; VIDEO ICT SPECIALIST</p>
<p>ALLIED TECHNOLOGIES GROUP</p>
<p>UPGRADES PROFIT PROJECTIONS – CONFIRMS SURPRISE MAIDEN DIVIDEND.</p>
<p>$7 Million in new financial year contracts, mainly with the ATO and Defence projects in Queensland, RAAF East Sale in Victoria and HMAS Albatross in New South Wales, resulting in a 50% first quarter, year to year sales increase to $18 Million – has forced recently merged and relisted Allied Technologies Group to upgrade profit projections.
The better than expected result has also caused a turnaround decision to pay a fully franked 1.5 cents per share cash maiden dividend.</p>
<p>Please call Allied CEO Ray Doak in Canberra on 02 6242 3000 or TERRY QUINN 0439 710 418 any time.</p>
<p>www.allied.com.au</p>
<p>IN BRIEF: The recent (April 29) merger and relisting of secure videoconferencing specialist ServicePoint and Canberra based Allied Technologies (ASX:ATZ) - both with long standing relationships and contracts with Federal Government Departments such as Defence - would appear to be working well above management, and market, expectations. Allied's success also supports the recent ACS survey which revealed a recovery in Australia's ICT market. A multi-million dollar swag of new voice, video and data contracts with Defence, the ATO and a major corporate have produced increased profit forecasts - a 50% lift in year to year sales - and the promise of a surprise maiden dividend.</p>
<p>The following is the text of the information sent to the ASX:</p>
<p>ALLIED TECHNOLOGIES GROUP LIMITED</p>
<p>(ACN 010 597 672)</p>
<p>BUDGET PROJECTIONS FY2005</p>
<p>SYDNEY Monday August 2: Following a review of orders in hand upon commencement of the new financial year – up from the previous year by 50% to $18 Million - its subsequent positive impact on profit projections, and in response to queries from shareholders and stockbrokers, the Directors of the Allied Technologies Group (ASX: ATZ) wish to advise of the Company’s budget projections for the financial year ending 30 June 2005, as follows:</p>
<p>Revenues $35 million</p>
<p>Profit After Tax $1.9 million</p>
<p>With further contracts approaching sign-off, the Directors will seek to update these projections during the course of the year. As at the close of business on 30 July 2004, Allied’s market capitalisation was approximately $10 million.</p>
<p>Investors should also be aware of Allied’s announcements of 19 July 2004 and 30 July 2004, in which it advised:</p>
<p>It had exceeded its prospectus profit forecast for the year ended 30 June 2004;</p>
<p>A fully franked cash dividend of 1.5 cents per share will be paid to shareholders - overturning a previously announced Director's decision not to pay a maiden dividend;</p>
<p>The Directors will introduce a Dividend Reinvestment Plan (DRP), details of which will be announced shortly;</p>
<p>The Directors have committed to take up their full entitlement under the DRP;</p>
<p>A number of major new contract wins, many with Federal and State Government Departments, have resulted in an order book of $18 million, up 50% on this time last year.</p>
<p>About Allied</p>
<p>Allied Technologies Group Limited (ATZ) is a specialist Next Generation Information &amp; Communications Technology services group offering total design, implementation and management for data, voice and video communications solutions for large corporates and government departments. The Group has specialist expertise in secure environments.</p>

Most Popular

Essentials

Mobile

Victorinox Werks Professional Executive 17 Laptop Case

Learn more >

Exec

Budget

Back To Business Guide

Click for more ›

Brand Post

Most Popular Reviews

Join the newsletter!

Or
Error: Please check your email address.

Latest Articles

Resources

PCW Evaluation Team

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?