Kaufman and Broad: FY earnings up 4.5%

(CercleFinance.com) - Kaufman and Broad has reported 2019 net income, group share that is up 4.
5% at 76.3 million euros, with an adjusted EBIT margin that is down 0.1 point at 9.5%, with overall revenue falling 5.5% to 1,472.2 million euros (before tax).

At its AGM on 5 May the Board of Directors will propose the payment of a stable dividend of 2.50 euros per share. Shareholders will also be offered the possibility to receive this dividend in cash, shares or cash and shares.

For FY 2020, the home builder expects sales to remain pretty flat compared to 2019, with an EBIT margin of between 8% and 8.5%, reflecting a return to normative margins in its tertiary business.


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