F&P Appliances posts $34.5m half year profit

Fisher & Paykel Appliances today reported a half year net profit of $34.5 million for the period to September 30, compared to $34.9 million the year earlier.

The previous year's net profit included a $5.35m tax paid dividend from F&P Healthcare.

A 9 cent per share interim dividend will be paid on December 8, up from 8.8cps last year.

Earnings per share were flat at 13c.

The kitchen and laundry appliances maker said in a statement sales continued to grow in the United States , but had slowed in the company's home markets of New Zealand and Australia as expected.

Sales grew 35 per cent in the United States, and 52 per cent in other international markets.

The company's expanded finance group performed strongly, with the newly acquired Farmers Finance business.

In the past year F&P Appliances has signed deals to supply the US Lowes home improvement chain, and formed a global alliance with the US based appliance maker Whirlpool.

Shares in F&P Appliances rose 3c to $4.20 after the result, having ranged between $3.60 and $4.92 over the past 12 months.

- NZPA