ABC turned in a pretty solid performance with NPAT increasing...

ABC turned in a pretty solid performance with NPAT increasing 8.5% to $166.5M and EPS 13.5% to 26.9c. On the back of that, a divvy of 9.5c (ff) was declared, to be paid on 16 April. I wouldve thought a bigger divvy was justified, but I see their gearing increased from 23.4% to 31.7%, so I suspect they're keeping more of the profits to reduce that.

Their outlook for 2015 appears, imo, conservative, especially through the mooted pickup in residential building activity.

Not an exciting company, but one for the bottom drawer!