Building and industrial products company Crane Group Ltd
(ASX:CRG) has posted a 47.3% fall in first half profit and says it expects its full year result to fall by 35% compared to the previous year.
Net profit for the six months to December 31, 2009 came to $15.87 million, down from $30.112 million recorded for the same period a year ago.
The result impacted by subdued market conditions in its Pipelines and New Zealand Trade Distribution businesses.
Crane Group declared an interim dividend of 18 cents, down from 35 cents in the first half of fiscal 2009.
The group says it net profit after tax, before significant items for the year will be down around 35% compared to the same period last year.
Crane earned $43.57 million in financial year 2009.
