STW reaffirms 2010 guidance
STW Communication Group Ltd reaffirmed on Wednesday its guidance of double-digit net profit growth for 2010 as it expressed confidence that the company remains on track to deliver much solid performance for the half year leading to June 30.
Company chief executive Mike Connaghan said that the marketing service firm is looking forward for a stronger half year result and a double-digit net growth, stressing that "we remain comfortable with recent analyst consensus for underlying NPAT (net profit after tax) growth in the mid teens in percentage terms."
Mr Connaghan said that STW's solid revenue and profit growths are reflective of the company's improved performance across all its communication disciplines, adding that "macroeconomic drivers and operating conditions across our customer base continue to be mixed."
He admitted though that the company would require more hard work in order to achieve further growth as he gave assurance that STW remains committed and confident for a positive economic outlook.
During its 2009 calendar year, STW achieved a net profit of $21.8 million, which was an improvement of 27.9 percent from the previous calendar year but the company's underlying profit of $33.1 million was 15.4 percent from its 2008 calendar year.