Monday, 13 September 1999
At the Martin Group's Annual General Meeting in mid September, the Board of Directors announced expectations for both a positive turnover and profit for the current financial year. The Board also suggested changing the financial year to follow the calendar year with May 1st - December 31st 1999 as a transitional period. This eight month transitional period is expected to show a turnover of approximately $60 million compared to $47 million for the same period last year, with a pre-tax profit around $3.5 million compared to a loss of $3.7 million last year. The result for the period also allows for a $430,000 expense related to the pending lawsuit with Vari-Lite in the US.