Sydney, Aug 13, 2007 (ABN Newswire) - Crane Group has reported a 14.5 per cent rise in net profits to $54 million for fiscal year 2007. Crane's managing director attributes the rise to growth in its metals trading business. The division delivered a 23 per cent rise in revenues on the back of higher metal prices and volume growth. Just last month the distributor of plumbing and electrical products bought plastic pipe-maker Kingston Bridge Engineering. Looking ahead, officials say Crane Group stands to benefit from growth in water infrastructure projects. Crane Group posted record earnings in 2006.

And as reporting season continues, United Group posted a 17.8 per cent rise in annual profit this morning, saying it expects another year of strong growth. Company earnings rose close to $93 million after tax, up from nearly $79 million a year earlier. United shares have risen about 26 per cent so far this year, powered by the resources boom and government infrastructure spending. The company is looking for acquisitions in European to fuel future growth. United Group has enjoyed a steadily increasing run of record profits since 2002.

In other news, Sonic Healthcare is expanding its global reach. The medical testing group has agreed to buy German medical laboratory group Bioscientia Healthcare. Sonic says the purchase price is based on an enterprise value of $260 million, and that the acquisition will be immediately earnings per share accretive. Earlier this month, Sonic reached an agreement to buy out minority interests in its own German laboratory business. And in July it agreed to buy US based Sunrise Medical Laboratories for about $168 million. Sonic Healthcare's earnings shot up to $172 million dollars in 2006

The full report is available at the following video and audio links.

Video Link

http://abnnewswire.net/lnk/H14SD1S6


Audio Link

http://abnnewswire.net/lnk/K9L64M25

About Finance News Network

Finance News Network (FNN) has been producing up-to-date concise business and finance news tailored to traders and investors alike since 2002. FNN content reaches a diverse and constantly growing audience via online streaming video, Street Vision broadcasts and the Telstra 3G mobile phone network.
http://www.finnewsnetwork.com.au

>>> CRANE GROUP LIMITED
>>> SONIC HEALTHCARE LIMITED
>>> UNITED GROUP LIMITED.