Salmat swings ahead with confidence

Communications group Salmat boasts record revenue at its annual general meeting and keeps its chin up over tougher times to come.

This was the first year that Salmat's group revenue exceeded $600 million, a growth of 14.3 per cent, bringing the company up to $601.9 million.  Net profit for the first half of the next financial year was already reported as being lower than the prior, and this was acknowledged in the meeting.

Peter Mattick, managing director said that: "Salmat is confident, with new contracts in hand, of a stronger second half and that full-year EBITA, excluding significant items and the proposed HPA acquisition, will be above last year's result."

The AGM also coincided with the launch of catalogue search engine, Lasoo.com.au, which went live this week. Phil Salter, fellow managing director, describes the site as a "pre-shop", giving customers the option to see what is in store before leaving home. "Lasoo is where you go to quickly find what is on offer," he said. "Then all you need to do is go into that store to buy it."

Currently, Lasoo has published 45 catalogues from a number of retailers.

Chairman Rick Lee concluded that: "I am confident of Salmat's growth opportunities, strong financial position and our long-term client relationships, combined with a committed management will ensure our continuing growth in the years ahead."