Building and Industrial products company Crane Group Ltd
(ASX:CRG) has reported a 28.4 per cent fall in full year net profit, and says it expects conditions to remain difficult.
Net profit after tax for the 12 months to June 30 came to $43.6 million down from $60.8 million recorded in the previous year.
Net profit before significant items fell 11.6 per cent to $56.4 million inline with guidance, while revenue dropped 9.9 per cent to $2.1 billion.
Crane says conditions for the coming financial year are expected to be at least as difficult as those experienced over the past year.
However, unless sales demand during the year improves, the company says it appears unlikely that full year 2010 profit after tax before significant items will exceed that of full year 2009.
Crane declared a fully franked final dividend of 28 cents per share.
Taking a look back over the past five years Crane Group has posted inconsistent results.
