Observers said the market was disappointed that the $16.3million net earnings figure fell short of the expected $19.5 million. Tough conditions in the rail sector was the major reason, the company said.
The United KG arm, which services the oil and gas industry, boasted a $13 million turnaround to contribute $7.5 million to the profit figure, after lifting its sales over 30% to $365.4 million. The group's total sales were $722.6 million for the year.
The directors have declared a fully franked final dividend of 4c per share, payable on 16th October to shareholders on the register at 9th October. This brings the total dividend for the year to 10c, fully franked. In 2001, United paid a total of 7c in dividends.
