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Fisher & Paykel First-Half Profits Up
Nov 8, 2007
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Fisher & Paykel Appliances Ltd posted a 16.6% increase in first-half net profit on the back of record high sales and lower costs. Sales in the company's three main markets of New Zealand, Australia, and North America hit record levels in local currency terms despite generally weaker markets, the company said. Profit for the six months ended Sept. 30 was NZ$29.3 million (approx. US$22.9 million), up from NZ$25.6 million ($20 milion) a year earlier. Costs incurred in the half year associated with the shift totaled NZ$11.4 million ($8.9 million). Earnings before interest and tax for the period rose 6.1% to NZ$56.3 million ($44.1 million) on flat revenue of NZ$693 million ($543 million).

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