Industrial engineering group Bradken Limited has reported a net profit after tax for half year ended December 2011 of $43,1 million, a 13 per cent increase over the previous sing month period.

 

The company has posted an 28 per cent increase in sales, taking total sales volume to $100.1 million for the December half.

 

”The underlying fundamentals of the business remain very strong, with our order intake at historically high levels. We are seeing continuing expansion of mining markets and are currently adding capacity to our foundry operations in Australia, China, Malaysia, Canada and the USA to meet the increased demand for cast steel consumable products. Sales of the new Bradken ground engaging tools product range are also forecast to grow strongly in the second half,” Managing Director, Brian Hodges said.

 

The Directors have declared a fully franked interim dividend of 19.5 cents per share, an increase of one cent on the previous corresponding period. The Company’s dividend reinvestment plan remains active with a discount of 2.5% and the dividend will be payable on 19 March 2012 with a record date of 17 February 2012.