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Fisher & Paykel Appliance Profits Up
Aug 24, 2012
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Fisher & Paykel Appliances reported group net profit after tax was NZ$12.3 million (approx. US$10.0 million) in the four months end July 31, 2012, up from NZ$4.7 million for the same period in the previous year.

F&P's Appliances business had earnings before interest and tax of NZ$9.1 million (approx. US$7.4 million) , compared to breakeven in the same period a year ago.

F&P's Finance business achieved earnings before interest and tax of NZ$10.9 million compared to NZ$10.2 million in the same period last year.

F&P's board said it is encouraged by the solid start to the financial year so far, but is aware of the potential for economic conditions to change suddenly in key markets, especially in Australia and the United States.

The second half of the year has traditionally provided the majority of F&P's full-year earnings. The second half of the current financial year will also benefit from sales from new motor contracts and new product releases.

Group full year operating earnings before interest and tax are expected to be between NZ$70 million and NZ$78 million.

The board expects full-year forecast operating earnings before interest and tax for Appliances' of between NZ$35 million and NZ$40 million.

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