News: Bradken FY profit falls 4%

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Shares in Bradken Limited (ASX:BKN) have fallen more than 10 per cent in morning trade after the mining products provider posted a 4.1 per cent fall in full year net profit.

In the 2011 financial year net profit came dropped to $67.56 million. However, excluding material one-off items underlying net profit grew 24 per cent and revenue rose 14 per cent.



Managing director Brian Hodges says the company has experienced a "strong, ongoing recovery post the global financial crisis".



Looking ahead Bradken expects 35 per cent to 40 per cent growth in the 2012 financial year, adjusted from the 2011 result.



A final dividend of 21 cents per share has been declared, fully franked and steady with 2010.

Shares in Bradken had sunk 10.66 per cent this morning, trading at $6.87.