Opus International Consultants will hold its first AGM for shareholders since listing on the New Zealand Stock Exchange in October last year, on 16 April in Wellington.
In announcing the inaugural AGM, Chairman, Basil Logan says the Board is pleased with the company’s performance for the year ended 31 December 2007 as the both the revenue and profit exceeded the financial forecast.
“We exceeded our forecast revenue by $15.4 million or 5.5 percent, with a total increase in revenue of 17.4 percent to $296 million,” said Mr Logan. “As a result of this strong financial performance we have announced a final Dividend of NZ4.5 cents per share, fully imputed.”
“I am pleased with this result, especially in this period of global market uncertainty which has impacted significantly on the New Zealand stock market. The New Zealand investment benchmark (NZX -50 Index) decreased over the last year and 14 percent in the year to date. Despite this market volatility we have performed well. I am very positive about our long term future growth and a good return on investment for our stakeholders.”
Opus shares reached a share price high of $2.30 shortly after listing at $1.65 before steadying, but remain strong against the NZX-50 Index, and are currently $1.75.
Opus recently acquired a large consultancy in the UK, the Joynes Pike Group, bringing the total number of offices in the UK to 17, significantly increasing its presence and business opportunities in that market. This acquisition will increase the companies expected revenue by NZ$26.4 million.
Worldwide the company operates in Australia, Canada, New Zealand the UK.
Following the Chairman’s and the Managing Director’s address at the AGM, and following any ensuing discussion, shareholders will be asked to vote on the Resolutions. These will include the re-election of Basil Logan and Dan Stevens who are retiring by rotation as non-executive Director’s.
Mr Logan who announced his retirement in March this year will be retiring from the Opus Board in August this year and will be succeeded by the Deputy Chairman, Kerry McDonald.