Melbourne IT shows what's in a domain name
May 23 2002

Listed Internet domain name company Melbourne IT declared itself in excellent health at yesterday's annual meeting - but declined again to say when it would declare its first dividend.

Chairman Rob Stewart said the narrowing of the company's focus to its core names business last year was reflected in the improved results.

The company earned $4.22 million before interest and tax in 2001, a 175 per cent increase on its 2000 EBIT of $1.53 million. Net profit after tax was $3.05 million, up from $1.48 million in 2000.

"I would love to be able to deliver a 175 per cent increase in EBIT every year," chief executive Adrian Kloeden told the annual meeting. "However, we do need to take a reality check from time to time. Our revenue streams have been strong and we have continued to contain our costs.

"We expect that EBIT for the first half will be about 10 per cent up on the $2 million EBIT for the first half of 2001." 

Details at: http://www.theage.com.au/articles/2002/05/22/1022038434617.html