PLAN B GROUP HOLDINGS LIMITED 
By Plan B Group Holdings Limited (“Plan B” or the “Group”) advises that, based on unaudited management accounts for the 12 months to 30 June 2011 (“FY2011”), it expects to report net profit after tax of approximately $4.6 million for FY2011. This represents an increase of approximately 37% over the reported net profit after tax for the prior financial year.
The anticipated strong improvement in profits for the year is consistent with the positive outlook and earnings commentary provided in February 2011. As announced at that time, the transfer of the management of Plan B’s international equities portfolio to its internal investment division has contributed significantly to the Group’s earnings growth. Plan B should continue to benefit from the ongoing full year impact of this initiative during the current financial year as well as the increase in Funds under Management, Administration or Advice reported recently.
Excluding one off management restructuring costs incurred in the prior financial year, the expected increase in the Group’s underlying net profit after tax for FY2011 is approximately 13%.
The improvement in the Group’s underlying performance is highlighted by the expected half year earnings growth. Plan B’s forecast net profit after tax in the second half of FY2011 of approximately $2.63 million represents a significant improvement on its reported performance in the first half of FY2011 ($1.97 million) and will comfortably exceed the underlying net profit after tax in the previous corresponding period ($2.36 million).
Plan B expects to finalise and release to the ASX its audited results for FY2011 during the week commencing 22 August 2011. The final dividend for FY2011 will also be announced at that time.
