ERG achieves record

WA SUCCESS story ERG Group has achieved record operating profit of $35.2 million for the year ending June 30, 2000 – a 73 per cent increase on the previous period.

This profit was achieved on total revenue of $415.7 million, an increase of 54 per cent.

Operating earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 59 per cent to $60.9 million.

Dividends will be increased by 33 per cent to 2 cents per share on the back of a 74 per cent increase in earnings per share, up from 9.6 cents per share in the comparative period to 16.7 cents per share in 2000.

In addition to declaring a dividend of 2 cents per share, ERG Group directors advised that a three for one share split would be proposed to shareholders at the annual general meeting in October.

ERG recently announced that international public transport company National Express Group PLC had purchased an additional 10 per cent shareholding in Prepayment Cards Limited from ERG. This takes its shareholding in PLC to 20 per cent and values in ERG’s remaining 30 per cent holding at around $35 million.