Dulux Shareholder Approval Final Hurdle To Completion of Nippon's Proposed Takeover; Vote in Favour
Declining paint volumes saw sales growth flatten for narrow-moat Dulux in first-half fiscal 2019. Weak markets also impacted the sealants & adhesives and Lincoln Sentry segments. First-half adjusted net income was AUD 71.1 million, down 4.1% from a year earlier. But Dulux believes a return to growth will occur in the second half and they continue to guide to full-year net income of at least AUD 151 million. We see this as ambitious given the soft first half which we feel is more indicative o...DuluxGroup is engaged in the manufacture, marketing, manufacture, marketing, sale and distribution of branded paint, coatings, adhesives, garden care and other building products to the residential home improvement, commercial and infrastructure markets across Australia, New Zealand and Papua New Guinea, China, South East Asia and the U.K. Co. supplies paints and coatings under the Dulux brand; consumer and construction products under the Selleys and Parchem brands; cabinet and architectural hardware under the Blum, Hera, SecureView, Assa Abloy and Breezway brands; and Yates garden care and home improvement products.
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