Beyond Group Television Fund Update and 2004 Financial Year Profit Projection
Further to the Company’s announcements to the Australian Stock Exchange of the 27th May and 5th June, Beyond International Limited (ASX - BYI) advises that the Beyond Group Television Investment Fund raised $9,120,000. This result is consistent with the Company’s budgeted expectation for the fundraising in the 2003 financial year.
At this time the Directors expect the results for the 2003 financial year to be within the range that was announced by the Company on the 27th May 2003.
The operating performance of the Company has improved in the second half of the 2003 financial year. The Directors expect this trend to continue and management are currently projecting that the pre tax operating profit for the current financial year ended 30 June 2004 will be in the range of $1 million to $1.5 million. This projection has been prepared assuming that the exchange rate of the Australian dollar to the US dollar is 70 US cents.
The Company expects to release its final results in the form of Appendix 4E on the 12th September 2003.
This announcement is made pursuant to Listing Rule 3.1
All enquiries should be directed to:
Mr Mikael Borglund, Managing Director, Beyond International Limited
Telephone 02 9437 2000 or email: investor_relations@beyond.com.au
