Business Description:
GUD Holdings Ltd (GUD) is an Australasian product marketing business which actively manages a number of consumer and industrial product companies. Key brands include Sunbeam, Ryco, Wesfil, Davey pumps, Oates and Dexion.

Strategy Analysis:
GUD manages a diversified portfolio of businesses which sells products into both wholesale and retail markets. There are four components of the company's strategic direction; a focus on cost competitiveness across the Group, innovation through new products and technologies, growth through sensible acquisitions and consistent application of cash-value-added principles and disciplines. Business units have active plans for new product development and introduction that will be the key to future growth. The company continues to search for complementary businesses to acquire with an overall emphasis on maintaining a strong dividend policy. The acquisition of Dexion adds a new business line and further diversification to GUD´s portfolio of businesses. GUD Holdings reported NPAT down 14.5% to $39.66m for the year ended 30 June 2011. This result includes costs of $12.3m before tax associated with the Dexion acquisition and the restructuring in Dexion and the Water Products business. Revenues from ordinary activities were $596.43m, up 25.1% from last year. Basic and Diluted EPS was 58.1 cents compared to 76.5 cents last year. Net operating cash flow was $67.80m compared to $78.19m last year. The final dividend declared was 35 cents, taking the full year dividend to 64 cents compared with 62 cents last year. The company is expecting a solid financial performance in FY12, underpinned by the strength of the company's brand portfolio. In addition, a recovery in the Water Products business is likely as more normal weather conditions return.