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Nuplex operating profit up 42%

ASX/NZX Media Release

28 August, 2008

 

Nuplex operating profit up 42%

Nuplex Industries Limited, the leading manufacturer and marketer of specialty resins and chemicals, today announced an operating profit for the year ended 30 June 2008 of NZ$53.4 million, 42% above the previous corresponding period (pcp).

Net profit after tax increased 84% to $48.3 million after unusual items related to remediation ($1.1 million) and impairment ($4.0 million). Earnings per share increased by 82%. Revenue grew 6% to $1,532 million.

Directors have increased the final dividend to 23 cents per share, payable on 17 October 2008 to shareholders on the register at 3 October 2008. This will bring total dividends for the year to 43 cents per share, up 19%, representing 66% of full year operating profit.

The dividend will be fully franked for Australian shareholders. It will not carry any New Zealand imputation credits and as a consequence overseas resident shareholders will not receive a supplementary dividend.

The dividend reinvestment plan will apply to the final dividend, with a discount of 30 cps from the strike price.

ends

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