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Symex Increases Final Dividend by 50%

Symex Holdings Limited (SYM) today announced a net profit after tax (NPAT) for the year ended 30 June 2010 of $9.67m. This is an increase of 2% over the NPAT reported for financial year 2009. The reported NPAT is in the upper half of the profit guidance of $9.0m to $10.0m released to the ASX on 14th August 2009. Symex will pay a final fully franked dividend of 3.0 cents per share which will be payable on 15th October 2010 to all shareholders registered on the record date of 24th September 2010. Chairman Peter Robinson said, “During the 2010 financial year, Symex has again been able to strengthen its Balance Sheet through an improvement in profits. This has allowed the Board to increase the final dividend from 2 cents per share last year to 3 cents per share this year, an increase of 50%. This dividend is fully franked. We are very pleased to be able to pay both interim and final dividends again within the last 12 months. This is a sign of the Board’s confidence in the stability of the Group’s earnings and we have now increased profits for three consecutive years. The focus of reducing the Group’s debt in previous financial year’s was a priority. We have now renegotiated with our bankers to have an interest only facility going forward. This allows us to focus on increasing our returns to our shareholders and we are very pleased to do so. Our acquisition of five and a half acres adjoining our current site at Shepparton allows us to expand our consumer goods business. The Board believes we are well placed to be able to do so within the next 12 months. The Board thanks all management and employees for their commitment to making Symex a successful company.” The Directors have forecast NPAT for the next financial year to be between $10.0m and $11.0m.