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AFT Corporation

Home arrow News arrow 11/10 Profit Announcement
11/10 Profit Announcement
Profit Announcement

October 17th, 2011 - AFT Profit Announcement

Mr. Stone Wang is pleased to announce that the AFT Corp. consolidated froup has posted a $800,000 profit after tax for the first half of 2011, which compares with the total annual profit in 2010 of $1 million.

Total sales turnover for the 6 months was $13.4 million.

The first half results were boosted by a surge in sales due to the 30th June deadline for the closure of the solar panel feed-in-tarrif in NSW.

The company expects that sales revenue in the second half of 2011 will be significantly lower than forecast due the changes to feed-in-tarrif in NSW, ACT and WA.

These certainly will cause an impact to the industry as a whole. The management continues to explore additional revenue streams to complement the existing product mix.

Stone Wang

CEO

AFT Corporation Ltd.