Dulux profits up 39 per cent

Dulux
has announced a 39 per cent increase in full-year profit, driven by strong sales in its Australia and New Zealand paints and coatings division and the contribution of revenues from Alesco.

AAP reports that the $104.5 million profit was up from 2013’s $75 million, and it
was the first full year after Alesco
acquisition.

Earnings
growth in Australian and New Zealand paints and coatings, Dulux’s largest
division, was up by 12 per cent to $821.6 million.

Managing
director Patrick Houlihan said that strong sales growth and better margins had
underpinned the result.

The ABC reports that he expects the Australian and New Zealand new homes market to remain strong, but was
downbeat about the infrastructure and commercial industries.

The outlook for major engineering and
infrastructure projects is weak as major capex projects – particularly in
mining –wind down, and the pipeline of new infrastructure projects is still
some time away,” he said.

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