Record Results for the SAI Group SYDNEY, Oct. 28 /PRNewswire/ -- The SAI Group has reported record sales and profitability for the financial year 2002-2003. SAI has recorded revenues of US$59.4M and a record operating profit of more than US$3.5M. According to the Chief Executive of SAI, Mr Ross Wraight: "These revenue results for the fiscal year 2003 reflect SAI's continuous profitability and growth and reinforce our fitness for further international expansion. "All areas of our business, Business Publishing, Professional Services and Assurance Services have shown growth in sales and significant cost savings," said Mr. Wraight. A key component of the 2002-2003 profitability included the acquisition by our auditing subsidiary SAI Global Limited of the leading Connecticut based training and education business, Excel Partnership Inc. "The acquisition of Excel Partnership greatly increased our ability to service our multi-national clients and deliver significant benefits to our existing clients," said Mr. Wraight. "The acquisition is expected to add more than US$9.8M per annum to our group revenues and has accelerated our expansion into the North American market. "Business Publishing has also continued to performed strongly through the highly successful application of web technologies. The division is now generating around 40 per cent of its revenue from electronically-based sales and 35 per cent from products delivered electronically." Other key factors which supported SAI's strong year-end results include: -- Acquisition of KPMG's certification business in Mexico; -- Reduction in operating costs. Key achievements during the year also include: -- Quality Assurance Services Limited, SAI's subsidiary organisation supplying conformity assessment services, has changed its status to a public company and changed its name to SAI Global Limited, to more accurately reflect its increasingly global profile; -- Achievement of certification to the latest international quality standard ISO 9001:2000. "All the indications are for an extremely positive 2004 for the SAI Group," said Mr. Wraight. "Globally, we plan to continue our expansion to capture new global clients. In addition to actively building the Excel Partnership business, we are looking into options for increasing our presence in China and to consolidate and expand our European assets. "In the meantime, the creation of new products and services that meet the ever-growing needs of our existing and future clients continues to be a priority, with this year's performance setting a benchmark for the future." The SAI Group Annual General Meeting will be held at 10am on the 12th of November 2003 at SAI's head office, Sydney, Australia. For more information about the SAI Group please visit our website http://www.standards.com.au/ . Media Inquiries - Tom Godfrey - SAI Group Ph: +61 2 8206 6863 Email: DATASOURCE: Standards Australia CONTACT: Tom Godfrey of SAI Group, +61-2-8206-6863, Web site: http://www.standards.com.au/

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