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AUSTRALIA'S CRANE GROUP TARGETS 5 PCT RISE IN OPERATING EARNINGS.

AsiaPulse News

| November 01, 2006 | COPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, Nov 1 Asia Pulse - Building materials company Crane Group Ltd (ASX:CRG) has forecast operating earnings in fiscal 2007 to be approximately five per cent higher than in the previous year.

In August Crane announced a 2005/06 net profit of $A73.87 million ($US57.11 million) - up from $A48.56 million in the prior year.

Net profit before significant items was $A47.1 million, down 4.3 per cent.

Operating earnings before interest, tax, depreciation and amortisation were $A138 million, down 9.6 per cent on the previous year.

"Based on present conditions in the building sector, FY07 operating earnings are expected to be approximately five per cent up on FY06 earnings," managing director Greg Sedgwich told the group's annual general meeting.

He said this growth would ...

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Source: HighBeam Research, AUSTRALIA'S CRANE GROUP TARGETS 5 PCT RISE IN OPERATING EARNINGS.

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