Australia's SAI Global returns to profit on efficiency gains

SYDNEY Wed Aug 20, 2014 7:53pm EDT

SYDNEY Aug 21 (Reuters) - Australian industry compliance firm and takeover target SAI Global Ltd announced on Thursday a return to an annual net profit from a loss the previous year, hitting analyst forecasts, as it took steps to improve efficiency.

Net profit was A$35.3 million ($32.78 million) for the year to June 30, from a net loss of A$43.2 million the previous year. Excluding one-off restructuring costs, net profit grew 6.3 percent to A$45.0 million, compared with the A$45.56 million average forecast of analysts polled by Thomson Reuters I/B/E/S.

(1 US dollar = 1.0769 Australian dollar) (Reporting by Byron Kaye; Editing by Paul Tait)

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