DuluxGroup: Stronger 1H2017 bolstered by ANZ business

Company News

by Jessica Amir

DuluxGroup (ASX:DLX) has reported its net profit after tax rose 14.2% in the six months to 31 March 2017, to $72.7 million.

The manufacturer and marketer of paints, garage doors and other construction products saw a 3.5% uptick in its sales revenue for the six months ending 31 March 2017, compared to the prior corresponding period.

The company says its retail market share increased, while its specialty coating portfolio grew which boosted its EBIT by 7.8% for the period (compared to the PCP) to $106 million.

DuluxGroup says its ANZ business was a large contributor to the group’s growth in revenue and profit.

The board also reported its interim dividend was 13 cents per share, fully franked, that’s a 13% rise from the prior year.

Shares in DuluxGroup (ASX:DLX) opened 0.59% higher to $6.88.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.