New Zealand-based appliance maker Fisher & Paykel Appliances Holdings Ltd. cut its full-year profit forecast by about 4.6 percent, citing higher costs.
Net income of NZ $60 million to NZ $63 million (approx. U.S. $41 million to U.S. $42.6 million) to is forecast for the 12 months ending March 31, 2006 down from a Nov. 10, 2005 forecast of NZ $63 million to NZ $66 million (approx. U.S. $42.6 million to U.S. $44.7 million), according to the company in a statement to the New Zealand stock exchange today.
The company reported profit of NZ $68.6 million (approx. U.S. $46.5 million) last year. (Bloomberg)
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