Australian supplier of fixtures and fittings, GWA Group Limited
(ASX:GWA) has reported a 60 per cent fall in first half profit. Net profit for the six months to December 31 was $13.3 million.
The losses are because of the impact of restructuring costs and losses from discontinued operations.
Sales in bathrooms and kitchens fell 11 per cent. The company says sales have been negatively impacted by the end of government stimulus spending and the reduction in building and renovation activity.
An interim dividend of 9.5 cents a share has been declared.
