🕐25.02.11 - 07:27 Uhr

Aspermont Limited [ASX: ASP] - Significant uplift in core media business underlines growth for 2011



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Aspermont Limited [ASX: ASP] - Significant uplift in core media business underlines growth for 2011

Aspermont Limited (ASX: ASP) has announced another period of growth after achieving improvements both in revenue and operating profit, although overall profitability was impacted by the need to book revaluations in the group�s investment portfolio.

Significant uplift in core media business underlines growth for 2011:
* EBITDA from Media Business of A$2.6m, compared to A$0.7m in previous year
* Media Business Revenue up $1m to $12.6m (1H2010: $11.6m)
* Further primary debt reduction of A$1.25m
* Increase in cash at hand, from $0.77m in June 2010 to $1.93m in December 2010
* Major expansion of conferencing delivering new growth opportunities

Aspermont CEO Colm O�Brien said that the strong growth within the core media business was particularly rewarding for the group.

�Our media results and the uplift we have seen in the first half of 2011 is the result of general market recovery, a reduced reinvestment program and overall stronger management of our cost base,� Mr O�Brien noted.

Mr O�Brien said that �the underlying strength in our media business positions Aspermont well for the remainder of the year and beyond.

As guidance we are anticipating media EBITDA of over $3.7m, ignoring potential fluctuations in our corporate investment portfolio which, by their nature, are difficult to predict.�

Please see the attached announcement for details.

For further information, please contact:

Aspermont Limited:
Colm O�Brien
Group CEO
Telephone: +61 8 6263 9100

Media enquiries:
Fortbridge Consulting:
Bill Kemmery
Telephone: +61 400 122 449
Mobile: +61 400 122 449
Email:


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