Bullish commentary on the housing sector from Adelaide Brighton CEO is underpinned by a fully franked special dividend

Bullish commentary on the housing sector from Adelaide Brighton CEO is underpinned by a fully franked special dividend. The Company has reported record revenue on the back of project work and the resources sector. Excluding a $7.6 million one-off gain in the pcp, net profit was up 3.9% on sales growth of 3.8%. Shareholders will receive a final dividend of 9.0 cents plus special 3.0 cents (total 2013 dividends 19.5c fully franked). There are two factors that stand out from the commentary and result show an underlying level of confidence in a cyclical housing recovery. Firstly, outlook commentary from CEO Mark Chellew, Modest growth in underlying net profit on healthy sales is encouraging... the recovery of residential demand has only just begun. Secondly, the special dividend is reflective of management/business confidence in the economy and the operating environment. Media release here: (VIEW LINK)


1 topic

The Livewire Equities feed brings you a range of insights that relate to Australian equities

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.