GWA shareholders rewarded with bigger dividend as profit grows
GWA Group will pay out a bigger dividend after reporting an increased profit of $47 million for the June year, an increase of 11.7 per cent on the previous year.
The Brisbane water solutions company would pay a final dividend of 8 cents fully franked, an increase of 20 per cent on the same time last year.
Managing director Urs Meyerhans said he was proud of the result considering the impacts from Covid and supply chains.
He said approvals in residential and commercial renovation and replacement segments was at historically high levels.
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He said GWA was well positioned to capitalise on positive sentiment across key construction segments.
Meyerhans was appointed managing director on July 1, 2021 and he said the year had shown improved safety performance along with EBIT growth and a rebuilding of the management team.
The company had also exited its loss-making China sales function with a one-off cost of $4.9 million.
