Business Services Industry
Crane looks to infrastructure and stores.
Australasian Business Intelligence, August, 2006
Byline: Henry Byrne
Aug 09, 2006 (The Australian Financial Review - ABIX via COMTEX) -- Crane Group reported a net profit of $A73.9m for 2005-06 due to the sale and closure of some businesses. However, profit before significant items fell by two per cent to $A47.1m because of the slowing housing sector. The group hopes to diversify into water infrastructure projects and increase its plumbing supplies business, a strategy to combat the decline in the building industry. Its plumbing supplies arm, Tradelink, will open 10 stores in 2006. The group's shares increased by $A0.02 to close at $10.60 on 9 August 2006.
Publication Date: 10 August 2006
CRANE GROUP LIMITED - ASX CRG
TRADELINK PLUMBING SUPPLIES
UBS AUSTRALIA LIMITED...
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