STW Communications Group (ASX:SGN) posts 15.4% slide in underlying profit

Company News

Marketing and advertising company STW Communications Group (ASX:SGN) has posted a 15.4% slide in full-year profit to $33.1 million.

The company says the result was impacted by one-off impairment charges and the global recession, with revenue down 10.9% to $269.2 million.

Despite this fall in underlying earnings, reported net profit after tax rose 28% to $21.8 million.

CEO Michael Connaghan says the company has a strong business pipeline and expects it to return to double digit profit growth in 2010.

The company has declared a final dividend of 2 cents per share – down from 3.2 cents in 2008.

STW Communications posted a profit of $17.03 million for the 2008 calendar year.

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