Dulux Group reports FY17 growth

Company News

by Kathy Skantzos

Paint manufacturing company Dulux Group (ASX:DLX) has reported net profit after tax (NPAT) growth of 9.6 per cent to $142.9 million for the 2017 financial year to September.

Sales revenue increased by 4 per cent to $1.78 billion and earnings before interest and tax (EBIT) increased 6.5 per cent to $214.2 million, driven by growth in the Dulux ANZ business which covers around 70 per cent of the group’s business.

Its other businesses segment declined 22 per cent, driven by weaker performance in China, offsetting planned investment in the UK.

Significant investment of $165 million went into the new Dulux Merrifield paint factory which is in its final stages, set to commence production in the first half of FY2018.

The board declared a final dividend of 13.5 cents fully franked, taking the full year dividend to 26.5 cents, representing a 10.4 per cent increase from the prior year.

Shares in Dulux Group (ASX:DLX) are trading 2.59 per cent higher to $7.74.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.