KEY POINTS:
Jasons Travel Media today said its March year net profit rose 11 per cent to $608,000.
It forecast a further improvement for the year ahead following operational restructuring over the last six months.
Turnover increased 3 per cent to $12.3m and operating profit rose to $726,000 from $666,000.
Chairman Geoff Burns said the company had made some significant value-generating changes to the business, the benefits of which should accrue in 2008 and beyond.
Interest charges fell as a result of the funds raised in the 2005 public offering when the company listed on the NZAX.
Capital expenditure fell to $438,500 from $812,200 but bank debt rose to $400,000 partly due to a reduction in current liabilities of $526,000.
"The balance sheet is in good shape and with improved results forecast it gives us scope to grow both organically and by acquisition where the opportunities arise," Mr Burns said.
A final dividend of 1.5 cents per share will be paid on August 2. The total dividend was 4.5 cps.
New chief executive Stephen Joyce said the company had identified overheads savings of $380,000 that should help the 2007/8 year.
Revenue was growing through organic growth and new on-line initiatives.
"However the tourism media sector is going through a lot of competitive change, and it would be unwise for shareholders to factor in those budgeted increases before they are achieved," he said.
Jasons shares last traded at 65 cents. They have ranged between 46 and 82 cents in the last year.
- NZPA
