Internet path to opportunity for F&P

Appliance and healthcare group Fisher & Paykel expects use of the internet technologies to provide it with significant growth opportunities.

In the group's annual report, chief executive Gary Paykel says: "Emerging electronic business models using internet technologies will provide one of the significant opportunities for our growth in the future.

"We see e-business as being a logical step to improving our operational efficiencies initially but providing breakthrough opportunities to drive revenue growth in the longer term."

Mr Paykel said operationally, the reduction of supply chain management with the group's suppliers and dealers would improve the efficiency of all its commercial and manufacturing processes.

The group's three businesses of whiteware, healthcare and finance were positioning themselves to use e-business and an internal development team had been established to implement the processes and solutions necessary to take advantage of the opportunities.

On overall outlook, Mr Paykel said: "This year's result has shown the path that we intend to pursue. I am sure that as we take advantage of the opportunities before us, our financial performance will continue to improve towards achieving our short-term goal of achieving 15 per cent on shareholders' equity."

Last month, Fisher & Paykel posted a jump in net profit from $35.1 million to $54.4 million for the year to March for a return on equity of about 14 per cent.

F&P closed down 1c yesterday at 669c.

- NZPA