DuluxGroup profit slides 4%

Company News

DuluxGroup Limited (ASX:DLX) has posted a 4 per cent slide in its annual net profit to $89.5 million.

The paint maker says the result was impacted by several one-off items relating to tax benefits and the costs of its acquisition of building material manufacturer Alesco Corporation Limited (ASX:ALS).

Sales revenue increased by 7.2 per cent. DuluxGroup’s chief says growth in revenue and like for like net profit  reflects its strong business fundamentals. Its acquisition of Alesco would provide compelling opportunities to extend its product ranges into new markets.

The Group has forecast an improvement in its underlying performance for the year ahead and declared a final fully-franked dividend of $0.08 per share.