Site International : Appendix 4E and Annual Report

ASX RELEASE‌‌‌‌

31 August 2017
Appendix 4E and Annual Report
The Directors of Site Group International Limited ("Site") are pleased to announce the release of: Appendix 4E - Preliminary Final Report for the year ended 30 June 2017: and 2017 Annual Report The attached annual report contains details of the achievements of the group over the last financial year.
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Media and Investors Vernon Wills Managing Director and CEO [phone] [e-mail]	Craig Dawson CFO [phone] [e-mail]
Principal & Registered Office: Level 4, 488 Queen St, Brisbane QLD 4000

t. [phone] (ASX: SIT)

ABN: 73 003 201 910 www.site.edu.au

Appendix 4E Preliminary Final Report to the Australian Stock Exchange

Name of Entity	Site Group International Limited
ABN	73 003 201 910
Financial Year Ended	30 June 2017
Previous Corresponding Reporting Period	30 June 2016

Results for Announcement to the Market

$'000	Percentage increase /(decrease) over previous corresponding period
Revenue and other income	45,702	32% decrease
Profit / (loss) after tax attributable to members	(50,466)	Decrease to loss
Net profit / (loss) for the period attributable to members	(50,466)	Decrease to loss
Dividends (distributions)	Amount per security	Franked amount per security
Final Dividend	0.0 cents	0.0 cents
Interim Dividend	0.0 cents	0.0 cents
Record date for determining entitlements to the dividends (if any)	Not applicable

Dividends

Date the dividend is payable	Not applicable
Record date to determine entitlement to the dividend
Amount per security
Total dividend
Amount per security of foreign sourced dividend or distribution
Details of any dividend reinvestment plans in operation
The last date for receipt of an election notice for participation in any dividend reinvestment plans

NTA Backing

Current Period	Previous corresponding period
Net tangible asset backing per ordinary security	(0.13) cents	3.64 cents

Other Significant Information Needed by an Investor to Make an Informed Assessment of the Entity's Financial Performance and Financial Position

Refer attached annual report

Commentary on the Results for the Period

The earnings per security: The current year result is a loss per share of (9.50) cents as compared to the prior year earnings per share of 1.84 cents. The underlying result excluding discontinued business and non-recurring items was a loss of $4.99m on revenues of $29.23m. This result was impacted by the VFH distraction which required substantial commitment of group management and associated expenses. These various costs are estimated to be in excess of $3m. Without the VFH segment distracting the business, the group result would likely have been close to breakeven. Since June 30 numerous cost saving measures have been identified and implemented. This includes reducing overheads, residual VFH expenses and key direct costs in the core business. Management have announced expectations for the coming financial year which includes strong revenue and margin growth. This has been re-affirmed by some early contract wins in both the offshore and domestic business. For further review of results please refer to the Directors report on page 8 of the attached annual report.

Returns to shareholders including distributions and buy backs: Not applicable

Significant features of operating performance: Refer to the Directors' Report

The results of segments that are significant to an understanding of the business as a whole: Refer to Note 22 to the Accounts (Operating Segments)

Discussion of trends in performance: Refer to the Directors' Report

Any other factor which has affected the results in the period or which are likely to affect results in the future, including those where the effect could not be quantified: Refer to the Directors' Report