Smartcard company, Keycorp Ltd (KYC) is tipped to return to the black -- ERG trade data forum

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Date Posted: 13:18:35 02/20/03 Thu
Author: Keycorp
Subject: Smartcard company, Keycorp Ltd (KYC) is tipped to return to the black

Keycorp to return to profit in full-year
20-February-2003
Smartcard company, Keycorp Ltd (KYC) is tipped to return to the black in the full-year after delivering a massive turnaround in its half-year result.

In a statement to the Australian Stock Exchange yesterday, the company said a full-year profit as high as $4 million could be possible after recording a $1.1 million first half profit and with the expectation that similar results would be achieved in the second half.

�Keycorp is forecasting a similar result for the second half, with revenues between $50 million and $60 million, EBIT in the range of $7 million to $11 million, with a resulting NPAT between a breakeven result and a $3 million profit,� the company said.

The expected $1.1 million to $4.1 million full-year net profit falls well above the company�s $321.5 million net loss last year, which was mostly attributed to one-off charges with its Transaction Network Business.

�Transaction Network Solutions continues to generate strong profits and positive cash flows,� the company added.

At close of trade yesterday, Keycorp was 13c lower at $1.32

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Replies:

KYC generated operating cashflow of $10m in the December half. -- Plutocratic1, 18:29:12 02/21/03 Fri