The Courier-Mail

Flushed with success

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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¢.

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