25th November, 2004: Managing Directors Report to AGM 2004.
As discussed in the 2004 Annual Report, I am pleased to advise that the past financial year has once again seen a significant improvement in the financial performance of the Company compared to the prior year.
The financial highlights for the year include: -
Consolidated revenue for the year increased 48.68% to $86,947,000 (2003: $58,480,000)
Pre tax operating profit increased 564% to $2,915,000 (2003: profit $439,000) and net profit increase of 1,309% to $2,114,000 (2003 net profit $150,000)
Net cash flows from operating activities increased 147% to $2,727,000 (2003: $1,104,000)
Corporate bank debt has decreased by 38% (or $3,667,000) to $5,948,000
A long term banking arrangement is in place with St George Bank Limited;
The funds raised by The Beyond Group Media Fund 2004 increased by 58% to $14,450,000 compared to $9,120,000 in the 2003 year.
Outlook for 2005
For the first quarter of the new financial year the Group is trading on budget in terms of revenue and ahead of budget in terms of pre tax earnings. The television production and the international television sales divisions are performing ahead of expectations whilst the feature film and ancillary divisions of the Company are trading slightly below budget.
The pre tax operating profit for the twelve months ended 30th June 2005 is still projected to be between $3.0 million and $3.3 million assuming an average annual exchange rate of 72 cents to the US dollar.
Management is also projecting a pre-tax operating profit of between $700,000 and $800,000 for the six months to the 31st December 2004 (2003 actual $685,000).
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Mr Mikael Borglund, Managing Director, Beyond International
Telephone 02 9437 2000 or email: investor_relations@beyond.com.au
published: Friday, November 26, 2004 
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