News: Bradken profits down

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Bradken Limited (ASX:BKN) has posted a full year net profit of $66.9 million, a 33 per cent decline on last year.

 

The result includes a one-off pre-tax charge of $30.4 million relating to Federal Court proceedings associated with the Norcast acquisition, which Bradken says will be written back to profit if the company's appeal is successful. 

 

Revenue in the same period was $1.3 billion, a 10 per cent drop compared to last year. 

 

The group declared a fully-franked final dividend of 18 cents, payable on September 13.

 

The mining services group says it expects its performance in the coming year to be largely comparable to fiscal 2013 as mine production increases steadily.