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Duet Group (ASX:DUE) has booked a steep fall in full-year net profit, despite revenue and EBITDA increasing on year.
In the year to June 30, Duet generated a net profit of $19.6 million, down 55 per cent on the previous year.
The result included a one-off cost of $111 million in relation to the company’s management internalisation.
Duet Group CEO David Bartholomew says the company has had a successful year with management internalisation and the simplification of the corporate structure.
Duet will pay an unfranked final dividend of 8.5 cents, for a total dividend of 16.5 cents.
