DuluxGroup see half year NPAT 4.1% lower

Company News

by Rachael Jones

Paint company DuluxGroup (ASX:DLX) today delivered their first half result showing net profit after tax (NPAT) was $68.2 million for the six months ended 31 March 2019, $2.9 million, or 4.1 per cent below the prior year’s adjusted NPAT.

Sales revenue was $892.9 million, growing 0.2 per cent excluding the divested and exited paints businesses in China.
Earnings before interest and tax (EBIT) was $109.1 million, an increase of 0.5 per cent when compared to prior year adjusted EBIT.

The company has entered a scheme of arrangement with Asian paint company Nippon and expect 2019 NPAT to be higher than the 2018 equivalent of $150.7 million.

A special dividend of 28.0 cents per share, fully franked, has also been declared.

Shares in DuluxGroup (ASX:DLX) closed 0.10 per cent lower at $9.73 yesterday.