Construction materials group Adelaide Brighton is forecasting strong price and sales increases after lifting full year net profit by 14.3 per cent.
Adelaide Brighton’s net profit increased to a record $172.7 million in 2014 from $151.1 million in 2013.
Higher concrete and clinker sales, the removal of the carbon tax, lower transport fuel costs and higher prices would more than offset higher gas prices and currency related import margin pressure in 2015, it said.
In other results announced today, Furniture retailer Fantastic issued a special dividend after lifting its half year profit 43 per cent.
Fantastic made a $6.97 million profit in the six months to December 28, compared to a profit of $4.9 million in the same period a year ago.
Group sales for the half were up 8.7 per cent to $244.3 million and the sale of its Dandenong Property contributed $22.7 million to its balance sheet.
A special dividend of four cents will be paid on April 8, plus an interim dividend of six cents.
Surfwear retailer Billabong has posted a profit for the first time in three years.
Billabong posted a $25.7 million profit in the six months to December 31, compared to a $126 million loss in the same period a year ago.
“A year into our turnaround it’s encouraging to see the group return to profitability for the first time in three years,” Chief executive Neil Fiske said.
The group’s sales in the US rose 9.5 per cent but sales in Australia were down during the Christmas trading period.
Nine Entertainment has tripled its first half profit and announced a $150 million share buyback.
Nine’s net profit rose to $90.98 million in the half year to December 31, from $31.7 million a year earlier, while revenues rose to $839.9 million from $802.7 million.
The media company said that given its strong underlying cash flows, it would buy back up to $150 million worth of shares from investors over a 12-month period.
It also said it was on track to lift full year profit by 10 per cent, adding that the advertising market had been improving.
Private hospital and medical centre operator Ramsay Health Care has increased its full year earnings guidance after lifting net profit by more than 21 per cent.
Ramsay increased net profit to $191.4 million in the half year to December 31 while lifting its fully franked dividend by 19 per cent to 40.5 cents a share.
It is now forecasting full year core net profit to increase by 18-20 per cent, up from 14-16 per cent.
Ausdrill has posted a $177.4 million half year loss after the downturn in mining investment led to a string of asset writedowns.
The loss for the six months to December 31 was weighed down by $197 million in impairment charges and compares to a $14.5 million a net profit a year ago.
Sales revenue was down 2.3 per cent to $414 million but the company lifted its operating profit 3.7 per cent to $19.9 million.
Ausdrill announced a fully-franked interim dividend of one cent per share, down from 2.5 cents per share a year ago.
Alumina Ltd has slumped to a $US98.3 million ($A124.56 million) full year net loss after paying for a range of restructuring costs including closing the Port Henry Smelter in Victoria.
The result was dragged down by $US189.4 million in charges, which Alumina said included the sale of interests in the Jamalco refinery and bauxite mine in Jamaica and a gold mine in Suriname.
However, the outlook for the company’s joint venture with Alcoa was positive, with global demand for alumina growing and bauxite supplies declining, it said.
A 1.6 cent a share fully-franked dividend was declared, after no dividend was paid in 2014.
