01/09/2008 - 10:48

Aspermont lifts profit to $2.3m

01/09/2008 - 10:48

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Western Australian publishing company, Aspermont, has recorded a net profit of $2.3 million for the year ending June 2008 and anticipates further growth after its recent $21 million acquisition of Mining Communications Limited (MCL).

Western Australian publishing company, Aspermont, has recorded a net profit of $2.3 million for the year ending June 2008 and anticipates further growth after its recent $21 million acquisition of Mining Communications Limited (MCL).

Aspermont announced revenue was up 32.4 per cent to $19.3 million and net profit from ordinary activities was up 18.1 per cent.

The company said that on a "normalised basis" the consolidated impact of MCL resulted in its revenue base growing from $14.6 million in 2007 to $30.9 million in 2008 with a net profit of $6.1million.

Aspermont CEO Mr. Colm O'Brien said that the combined revenue of the two businesses forms the basis
of solid cash flow for 2009, and the transaction provides Aspermont with a significant global presence.


In addition to the MCL acquisition, Aspermont invested in 49 per cent of a leading Australian based conference
and training company, Tonkin Corporation and continued its investment into online product offerings
Search.Net and SuperLiving.


At the end of the reporting period, Aspermont also entered into a joint venture with the Kondinin Group
and Grain Growers Association to leverage products into the lucrative agricultural sector within Australia.


Aspermont's strong operational and financial performance will allow it to continue to build its reputation
as Australia's leading B2B publisher for industry.

Aspermosnt claims its 2008 preliminary results highlight the commercial benefits of Aspermont's strategy to
diversify the company's information platforms through its extension into online publishing and conferencing.


"We have finished the year in a very strong position and the Board and management are confident that
the Aspermont group of business will continue to outperfom in 2009," Mr. O'Brien said.

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