Back in February, Globe released its six-month results for end of 2011. You can download and veiw the report from this link. Revenue was down by 8% from $46.4 million to $42.7 million for end of dec/2011. Earnings fell from $1.9 million to $1.5 million and net profit was down from $924,000 to $761,000. All these figures are in Australian dollars.

 

They note that the decline in sales was largely due to the strengthening of the Australian Dollar. Also that the underlying profitability of the group versus the prior corresponding period is most significantly affected by downward pressure on gross margins as a consequence of changes in the sales mix.

 

CEO Matt Hill says, “…we anticipate continued stability for the Group and expect profitability to be largely consistent with the first half, excluding the settlement proceeds.” They expect some of their longer-term product and sales investments to start to pay off in the 2013 financial year.

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