2011 basic earnings per share cents return on net

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Unformatted text preview: effective tax rate for the Group was 25% (2010: 26%). Shareholder returns The shareholder returns presented below are based on results from continuing operations excluding Cadillac Printing (disposed of 1 July 2010) and including iPrint (acquired 30 June 2011). 2011 Basic earnings per share (cents) Return on net assets (%) Return on net assets excluding goodwill & intangibles (%) Dividend payout ratio (%) 2010 23.34 17.42 44.40 70.70 19.55 14.98 38.52 71.62 Liquidity and financial condition The Company has registered a strong improvement in net operational cash flow which, at $11.7m, represents a 5% increase over the previous financial year. While net assets within the Group are comparable to the prior year, the divestment of Kinkaid Pty Ltd (trading as Cadillac Printing) and acquisition of iPrint Corporate Pty Ltd has had an impact on the composition of the statement of financial position. As at 30 June 2011 the Group has no net debt with cash and cash equivalents in excess of interest bearing li...
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