A second successive annual loss GUD Holdings after the sale of two businesses in the 2016-17 June year slashed $58.9 million from the companys bottom line.
The Melbourne-based manufacturer of household and industrial goods reported an annual net loss of $7.3 million, compared with a loss of $43 million in the 2015-16 financial year.
On an underlying basis, earnings rose 11% to $51.1 million, thanks to the restructuring. Revenue was up 4% to $426.3 million, stripping out the discontinued businesses.
The loss at GUDs bottom line came from discontinued operations, with the sale of storage and logistics business Dexion and lock manufacturer Lock Focus which contributed most of the $58.9 million of red ink.
Final dividend was lifted to 25…
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