Crane Group Ltd
(ASX:CRG) has posted a 35% fall in net profit to $36.8 million for the year ended 30 June 2010.
The building and industrial products company has also reported that total revenue was down 12% to $1.86 billion for the last financial year.
Lower volumes in the company’s industrial products business accounted for an 8% drop in sales to $297 million for the year to June 2010.
Managing Director, Greg Sedgwick says Crane Group worked to weather difficult conditions in the market and expects to post improved results for the following financial year.
Crane Group reported a profit of $43.57 million for the year ending 30 June 2009.
