Flushed with success
ASALEO investors cleaned up yesterday after the toilet paper maker posted a better-thanexpected first half net profit. The stock rose 9.5¢ to $1.635 with the company flagging a boost to full year earnings. It also announced plans for a share buyback of up to $100 million. Net profit, excluding costs associated with its 2014 ASX listing, was $32.5 million for the June half, up from $28.2 million the previous year.
CEO Peter Diplaris said the results were driven by improved sales mix and cost cuts. Asaleo will pay an unfranked interim dividend of 4¢.