'Procurement effectiveness' one factor in DuluxGroup's profit growth

09 Nov 2010

Source:  Sydney Morning Herald
DuluxGroup says net profit for the company's first year as a standalone entity came in at $61.289 million in fiscal 2010 and expects profit to grow further in the current year.

The results do not reflect the complete 12 months of results of the company's operations, DuluxGroup said in a statement. DuluxGroup managing director and chief executive Patrick Houlihan said a focus on delivering profitable growth, effectively managing gross margins and productivity while reinvesting for long term growth would underpin the company’s success. He stated the result was helped by a recovery in gross margin, favourable exchange rate movements and ‘‘procurement effectiveness and complemented by a continued focus on premium product mix’’.

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