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DWS Limited ACN 085 656 088
Company Announcement
Half Year Financial Results to 31 December 2016
DWS Limited (DWS) announces the following results and highlights for the half year ended 31 December 2016.
First half revenue of $73.74M (up $5.57M or 8% on pcp).
First half underlying EBITDA of $13.65M (up $1.57M or 13% on pcp).
First half NPAT of $9.07M (up $1.47M or 19% on pcp).
First half operating cash flow (before interest and tax) of $14.61M, which is 107% of EBITDA.
Interim fully franked dividend of 5.0 cents per ordinary share declared (3.75 cents per share pcp):
Record Date 16 March 2017
Expected Payment Date 4 April 2017
DWS has recorded a strong performance in the first half of 2017 with good organic growth in revenue, EBITDA and NPAT.
Having integrated the Phoenix Contractor model into the DWS operating model, DWS now offers greater flexibility in resourcing solutions for its customers as well as an ever growing portfolio of services. Demand for Symplicit's digital and customer led innovation service offering continues to grow and provides additional opportunities for other DWS services. The strong financial position of the DWS Group has led to a further reduction in bank debt as well as maintaining a 5.0 cent fully franked dividend for shareholders. With the acquisition of Phoenix and Symplicit complete and a strong financial position, DWS will continue to look for earnings accretive acquisitions to supplement current service offerings.
Danny Wallis, CEO and Managing Director of DWS Limited commented on the result saying:
"The strong organic growth achieved by DWS in the first half demonstrates the success of DWS's breadth and depth strategy and the successful integration of the Phoenix and Symplicit acquisitions. DWS's digital and customer led innovation service offering led by Symplicit continues to perform well and to be highly sought after by our clients. We look forward to supporting our clients in 2017 and growing the DWS business through continued organic growth and appropriate earnings accretive acquisitions."
For further information, contact:
Danny Wallis (CEO and Managing Director) or
Stuart Whipp (CFO)
Phone (03) 9650 9777
About DWS
DWS Limited (DWS) is a professional services company which provides information technology consulting services to large corporate entities and Australian Government agencies. DWS listed on the Australian Securities Exchange on 15th June 2006. ASX code 'DWS'. DWS currently employs over 600 staff and contractors and has offices in Melbourne, Sydney, Brisbane, Adelaide, Canberra, Coolangatta and Perth. More information can be obtained at our website http://www.dws.com.au, or by contacting our head office in Melbourne on (03) 9650 9777.
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DWSExcellence
Appendix 4D31 December 2016 DWS Limited
For personal use only
DWS Limited TABLE OF CONTENTSDIRECTORS' REPORT 2
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 5
CONSOLIDATED STATEMENT OF FINANCIAL POSITION 6
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 7
CONSOLIDATED STATEMENT OF CASH FLOWS 8
NOTES TO THE HALF YEAR FINANCIAL REPORT 9
DIRECTORS' DECLARATION 13
AUDITOR'S INDEPENDENCE DECLARATION 14
INDEPENDENT AUDITOR'S REVIEW REPORT 15
The consolidated half year financial report does not include all of the information required for a full annual report and should be read in conjunction with the consolidated annual financial report of the consolidated entity (DWS) for the year ended 30 June 2016 and any public announcements made by DWS during the half year reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001.
For personal use only
DWS LimitedAppendix 4D and Interim Financial Report For six months ended 31 December 2016
RESULTS FOR ANNOUNCEMENT TO THE MARKET
Dec-16 | Dec-15 | ||||
$'000 | $'000 | Change $'000 | % Change | ||
Revenue from continuing operations | 73,739 | 68,173 | up | 5,566 | 8% |
Total comprehensive income for the half year | 9,065 | 7,597 | up | 1,468 | 19% |
Dividends (distributions)
Franked
Amount per amount per security security
Record Date for
dividend entitlement
Dividend Declared during the half financial year
5.00 cents
100%
4 September 2016
Dividend Declared subsequent to half financial year
end
5.00 cents
100%
16 March 2017
Current
period
Previous
corresponding period
Net tangible asset backing per ordinary security (2.40) cents (1.08) cents
Earnings per Share
6.88 cents
5.76 cents
The commentary on the results for the period is contained in both the Half Yearly Financial Results announcement and the review of operations in the Directors' Report accompanying the Interim Half Year Report dated 13 February 2017.
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DWS Limited published this content on 13 February 2017 and is solely responsible for the information contained herein.
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