Calan boosts full year profit 24%

The company posted a net profit of $9.09 million, up from $7.36 million the previous year.

Total operating revenue fell 6% to $14.7 million, from $15.6 million a year earlier. Operating surplus before income tax was up 11% to $10 million.

Earnings per share rose 21.4% to 6.732.

A final quarter dividend of 2 cents per share will be paid on September 1, bringing the company's total dividends for the year to 8 cps.

Chairman Bruce Davidson said Calan has simplified its structure, reduced costs and contracted out its property acquisition and development function.

Shares in the company last traded yesterday at 87 cents, having fetched between 81 cents and 92 cents.

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