Fisher & Paykel Appliances forecast a recovery in earnings from its appliances business this year because it doesn't expect a repeat of last year's hedging losses.
Operating earnings before interest and tax for the appliances division would be $35 million to $40 million in the year ending March 31 next year, from an adjusted $11.3 million last year, according to a statement accompanying the Auckland-based company's AGM.
The 2012 result included transactional hedging losses of $25.6 million.
F&P Finance would report operating ebit of $35 million to $38 million, from $37.8 million last year.
The figures may not be directly comparable because the earnings measures aren't defined under NZX reporting rules.
