Ideas International Limited (IDEAS, ASX:IDE) has posted a profit after tax of $921,031 for the six months ending 30 June 2011, up 23.8% on after tax earnings for the same period last year of $744,176 and is close to the upper end of the earnings guidance of between $825,000 and $925,000 issued in June.
CEO of Ideas International, Stephen Bowhill, commented, “This increase in profits was the result of an 8.5% increase in revenues and only a 1.4% increase in expenditure for the half year compared to the same period last year.”
“We are pleased with the half-year result and also delighted with the take up of our new IDEAS Advantage service for end users.”
Commenting on the results in more detail Mr Bowhill said, “The consolidated entity was cash flow positive for the half year, with net cash provided by operating activities of $2,779,209. While this is a small decrease of $90,514 or 3.2% compared to $2,869,725 from same period last half year, it is net of the $549,088 dividend payment to shareholders in April 2011.”
Finally, Mr. Bowhill stated, “We are on track with our business plan as outlined at the AGM in May this year.”
About IDEAS
IDEAS provides Enterprise IT Research, Insight, Analysis and Tools to computer suppliers and consultants (IT Sellers) and large corporates (IT Buyers). The company’s research focus areas include: servers; storage; software; services and cloud. IDEAS is a publicly traded company on the Australian Stock Exchange (ASX:IDE) and has been in business for over 25 years. IDEAS hosts users in over 100 countries and maintains offices in the US, EMEA, and Asia Pacific.
www.ideasinternational.com
Contacts IDEAS
Stephen Bowhill, CEO, +61 (0)2 9472 7701
stephenb@ideasinternational.com
Paul Sowerby, CFO, +61 (0)2 9472 7720
pauls@ideasinternational.com