VERIS PRELIMINARY FINAL REPORT YEAR ENDED 30 JUNE 2013
OTOC Limited (ASX code: OTC) is pleased to report record group profit from operating activities (EBIT) of $7.7 million for the year ended 30 June 2013.
This record result was achieved despite a general slowdown in the mining infrastructure market and demonstrates OTOC’s success in two strategic focus areas: business diversification and improved financial management.
A key focus for the group has been the introduction of improved internal processes and management systems to better monitor costs and create a best practice environment for our workforce. These improvements have had a positive impact on OTOC’s earnings, as shown by an increase in the EBIT margin from 4.8% in FY2012 to 6.7% in FY2013. We are confident these improvements will continue to have a positive impact on group profits.