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Full Financial Report
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    Balance Sheets
    Statements of Recognised Income and Expense
    Cash Flow Statements
    Notes to the Financial Statements
    Directors Declaration
    Independent Auditors Report
    Independent Auditors Report
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Chairman's Message

one year many milestones

Salmat is ready for a new era in communication and a new era of success.
Financial performance
Salmat has maintained its unbroken record of sales growth in 2008. Our full year sales revenue was $812.0 million, up 34.9% on the previous year. This was a noteworthy achievement in a busy and challenging year.
EBITA for the year was $44.1 million, or $57.6 million before significant items. This represents an increase of 22.6% on the prior year.
Net profit after tax was $12.8 million, down 71.0% on the previous year. This was in line with expectations given the one-off significant item costs associated with the launch of Lasoo and the costs flowing from the acquisition of HPA.
In contrast, the previous year benefited from the significant one-off gain of approximately $25 million from the sale of the Philippines joint venture.
There were some notable funding developments during the year associated with the HPA acquisition, including an equity raising of $87 million and a significant reduction in net borrowings, down to $219 million by year end. This restored our gearing from a high point of 46.7% in October 2007 to 43.6% by year end.
Since year end we’ve also replaced a short-term debt facility with a $50 million working capital facility expiring in August 2010.

 

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