CEO's Report
Dear Fellow Shareholders,
Firstly, I would like to thank you for your ongoing support throughout 2005-06 and trust it will continue in 2006-07. I would like to share with you the highlights of the year and thoughts on the current financial year.
It would be remiss of me not to sincerely thank our increasing number of staff for what has been again a fantastic performance. I am acutely aware that the success of any company is primarily driven by the quality of its staff.
The 2005-06 figures represent a robust year of growth through all parts of the business. Cash flow has remained strong underpinned by prepayment in subscriptions,product sponsorship and online advertising.Last year also saw one-off costs in investment for a new operating model.The year-end results include the recognition of the benefits of previous tax losses that have added to our net after tax profit.
The high-level indicators are as follows:
Dear Fellow Shareholders,
Firstly, I would like to thank you for your ongoing support throughout 2005-06 and trust it will continue in 2006-07. I would like to share with you the highlights of the year and thoughts on the current financial year.
It would be remiss of me not to sincerely thank our increasing number of staff for what has been again a fantastic performance. I am acutely aware that the success of any company is primarily driven by the quality of its staff.
The 2005-06 figures represent a robust year of growth through all parts of the business. Cash flow has remained strong underpinned by prepayment in subscriptions,product sponsorship and online advertising.Last year also saw one-off costs in investment for a new operating model.The year-end results include the recognition of the benefits of previous tax losses that have added to our net after tax profit.
The high-level indicators are as follows:
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It has been very satisfying to watch our core products return in excess of targeted margins, whilst our newer products continue to grow within their markets. CURRENT FINANCIAL YEAR OUTLOOK We are presently tracking to the aggressive budgets that we have set for this financial year and I have every confidence that the targets can be achieved.The company is constantly challenging itself to create new opportunities for growth and to provide our customers with meaningful, bespoke solutions to their needs as readers and advertisers. Aspermont has taken a more strategic view of its market offering and is concentrating on a sector-based approach rather than individual products.Within this context we are determined to provide our community of readers and advertisers quality multiple delivery channels across print, online, market intelligence and conferencing. The company is actively reviewing a number of potential target companies to create strategic partnerships in a variety of sectors and locations, coupled with a series of planned launches of new products across all channels. Aspermont continues to develop a greater depth and breadth of products both in existing and new sectors to ensure we have mitigated any risk of overexposure in individual industry sectors. Our growth plans will lead to further plough-back of profits and indeed a review of funding options available to the company over the next six months. I look forward to providing further updates throughout the year as appropriate. Yours sincerely,  Colm O’Brien Chief Executive Officer Aspermont Limited |