Beam International today released its first Half-Yearly Financial Results since it became a publicly listed company on the Australian Stock Exchange. The results were as follows ($’000s):
Revenues |
$2,890 |
| EBIT Profit |
$900 |
| Interest expense (*) |
$89 |
| Net Profit |
$811 |
The Chairman of Beam International Ltd, Mr. Alfred Milgrom, said: "We are extremely pleased with this result, which is in line with our projections. Moreover, we are confident of meeting our Prospectus Forecast of $2.2 million profit for the full financial year, as the sales of our own published titles are all due to occur in the second half-year."
The Chairman’s report revealed that one of Beam’s major releases, ‘KKnD’, is expected to ship 200,000 units world-wide before the end of the financial year. The title will be released internationally in over 20 countries and in at least 5 language versions.
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"The constant growth in consumer awareness, coupled with continual online discussion, puts KKnD in a position to be one of the strongest titles in its genre this year" commented Adam Lancman, Managing Director at Beam Software.
The successful release of Cricket ‘97 saw it rise to number #1 Best Selling Sports title in Australia and has maintained its position in the top five best selling titles this month. The Company expects that the pending UK release will further add to this initial success.
Beam has also invested in development of educational multimedia titles jointly with the Australian Multimedia Enterprise, and the Chairman expects that the educational multimedia division will grow to represent 10% - 20% of Beam’s revenues and earnings.
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