GUD Holdings Limited (ASX:GUD) has increased its annual profit and flagged growth ahead. 

The appliance manufacturer boosted its net profit by 88 per cent to $33.2 million in the 2015 financial year. 

Managing Director Jonathan Ling says GUD is extremely pleased with the progress made in FY15 and expects a further substantial uplift in financial performance in FY16. 

Mr Ling has advised this will come from a continuation of the sales momentum from the second half of FY15 and from the Brown & Watson International acquisition. 

A fully franked final dividend of 22 cents has been declared, taking the full year payout to 42 cents.