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09 Aug 2012 | Press Release

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Another record result for 1300SMILES

Corporate Dentistry

1300SMILES Ltd has announced record results for FY 2012, continuing its streak of five consecutive years of record high Net Profit After Tax, Earnings Per Share, Dividends Per Share and Dividend growth, and seven consecutive years of Revenue growth.

Net Profit After Tax was up by 20% to $6.2 million whilst Dividends were up 14.8% to 17.8 cents per share. Earnings Per Share grew by 10.1% to 26.6 cents despite an 11.1% dilution in share capital due to the allotment of additional shares to institutional investors during the year. Statutory Revenue grew by 28.4% to $36.7 million whilst over-the-counter Revenue was up 28.7% to $45.9 million.

1300SMILES Managing Director Dr Daryl Holmes said the company continued to focus on improving the underlying business. "During the year we continued to invest in and on our business. We are designing our business to be as scalable as possible, so it is ready for growth as and when profitable growth is available, and at the same time we are working hard at in-filling and growing our established facilities," Dr Holmes said.

He said, "We hold our highest ever cash reserve, being $5.9 million at year end net of all debt obligations. We also have substantial borrowing facilities in place, and consequently have resources sufficient to fund any conceivable acquisition or expansion we might undertake."

"We are not hoarding cash, though, and in fact invested almost $2.2 million by way of capital expenditure alone back into the regional economies we serve," Dr Holmes said.

"We also continued our work on attracting and recruiting key talent and on developing our people. I am very pleased with our results in those areas, which are flowing through to our financial results in a positive way."

1300SMILES Ltd is Queensland's largest provider of dental services. It owns and operates twenty-four established multi-dentist facilities in Cairns, Townsville, Mackay, Rockhampton, Gladstone, Bundaberg, the Sunshine Coast, several locations in greater Brisbane, the Gold Coast, and Toowoomba.

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