Folkestone Group has delivered a net profit after tax of $1.8 million for the year ended June 30, 2006 – compared to $438,000 in 2005.
The directors have declared a final fully franked dividend of 3.5 cents per share bringing the total for the full year to 6.0 cents per share. This is the same level as the previous year.
Meanwhile, Folkestone’s chief executive Allan Davison has retired in July 2006. He oversaw many major developments for Folkestone including the listing of the company on the ASX in 2000.
Oscar Guglielmi had been appointed as the new chief executive and will commence on August 28, 2006.
By Kathryn O’Meara
