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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.