By NZPA
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Friday 14th June 2002 |
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That's a 35 percent improvement on the $4 million profit recorded a year earlier, and beats forecasts made in the company's listing prospectus.
No dividend will be paid.
Shares in VTL, which debuted at $1.12 in November, last traded at $2.30 on June 13. That compares with a year high of $2.40 and a low of $1.91.
Today's result was achieved on revenues of $19.5 million, up 20 percent on last year's $16.3 million figure.
"In the uncertain prevailing international environment in which VTL undertook its expansion, this is a very good result indeed," said chairman Richard Janes.
"It reflects the company's transformation from a vending machine operator into an international vending systems licensing company and confirms our ability to achieve profitable growth based on licensing models established over the last 12 months."
VTL's flagship product is an "intelligent" food and drink vending machine, which is able to sell hot and cold products out of the same machine.
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