Hansen Technologies Limited (ASX: HSN) is pleased to confirm an improved operating performance for the first half of Fiscal 2009/10 and declare a 2 cent per share interim dividend.
The Group operating result for the half year to 31 December 2009 was:
- Revenue of $29.044 million, a 21% increase over the previous corresponding period (pcp),
- EBITDA of $7.908 million, up 23% on the pcp,
- Net Profit after tax of $4.493 million, an increase of 30% on the pcp.
The Directors of Hansen have declared:
- a fully-franked interim dividend of 2 cents per share with:
- a record date of 5 March 2010,
- payment on 29 March 2010, and
- a 5% discount to the application price for shares issued in accordance with Company's Dividend Reinvestment Plan.
In the first half of the Fiscal 2009/10 year Hansen has:
- continued the integration and improvement of the Peace business,
- enhanced our product and service offerings to meet the structural and metering technology changes occurring in the energy industry,
- invested in sales and marketing activities for new geographies in both the energy and telecommunications industries, and
- increased our commitment to the pursuit of appropriate acquisitions.
We have been able to lay these foundations for the future while:
- delivering continued growth in operating performance, and
- remaining debt free and retaining sufficient cash reserves to pursue our growth objectives.
In announcing the half year result Hansen's Chief Executive, Andrew Hansen, observed "The introduction of smart meters and the pursuit of smart grid initiatives is accelerating in the energy industry worldwide. This is likely to be the fundamental driver of change as it affects our energy-related business activities over the next 10 years.
We are ready to service the requirements that the energy industry's ‘smart' initiatives will require of a billing solution vendor. We have enhanced our solutions and benchmarked our software with world-leading performance results. We will continue to make the investment required to ensure our solution suite of products exceeds the evolving requirements of "smart" grid initiatives.
As previously forecast, recent worldwide economic instability has tended to slow down the introduction of major system changes for some customers. From a longer term perspective however, the 'smart' initiatives and the resultant systems reform are inevitable. Our pipeline of opportunities is strong and we are working with existing and potential new customers to ensure we are prepared to deliver their new billing solutions as required.
In addition to pursuing organic growth, we have increased the resources allocated to the acquisition of complementary business activities. Finding the right balance of strategic fit for a realistic price is challenging, but we remain committed to robustly pursuing this growth initiative.
Our first 6 months operating performance has delivered to my expectations and is a strong start for this fiscal year. I said back in August 2009 and I repeat again now, "I am very positive about the future of our business and I am optimistic of delivering another record operating performance in Fiscal 2009/10"."
NOTE: Shareholders wishing to participate in the Dividend Reinvestment Plan need to have lodged the required DRP Notice with the Company's Share Registry by no later than 5.00pm on the record date, 5 March 2010.