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Melbourne, Australia – February 4, 2008 - Colorpak Limited (CKL) reported 1H08 NPAT of A$3.2m, up 38% on the pcp and roughly inline with the trading update provided in December 07. The strong earnings result was
driven by a solid growth in sales (up 13%) to the beverage, food and pharmaceutical segments as well as operational efficiencies from the recent capex program. The result also highlighted a significant improvement in operating margins and gearing.
Today’s result follows a strong performance in the 2H07 and reinforces the view that the underlying business remains solid and the capital expenditure committed in FY06/07 has set a sound platform for CKL to continue to grow sales and earnings into the future. As a result, Merrill Lynch has upgraded their earnings estimates by 10.1% in FY08, 7.1% in FY09 and 6.5% in FY10.
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