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- Release Date: 27/03/14 18:04
- Summary: FORECAST: MVN: Methven Full Year Result Update
- Price Sensitive: No
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MVN
27/03/2014 16:04
FORECAST
REL: 1604 HRS Methven Limited
FORECAST: MVN: Methven Full Year Result Update
NZX Statement 27 March, 2014
Methven Full Year Result Update
Methven has continued to experience the soft trading conditions reported in
its January guidance. Stock reduction programmes by key Australasian
customers have continued longer than anticipated impacting February and March
sales. This has been compounded by the negative impact of currency
translation.
Consequently we now expect our net profit after tax result for the year
ending 31 March 2014 to be 5% to 10% down on last year's reported result and
net profit after tax excluding one-offs to be 0% to 5% down.
Net Debt is expected to be around $15 million, $2.2 million below last year
end.
- ends -
1 Net profit after tax excluding one-offs is net profit after tax adjusted
for the impact of acquisition costs.
2 Net Debt is cash and cash equivalents less interest bearing liabilities
For queries please contact:
David Banfield, Group CEO, M +64 27 720 9082, +64 9 829 0425,
[email protected]
Deidre Campbell, Group CFO, M+64 21 272 4008, +64 9 829 0418,
[email protected]
For company information go to: www.methven.com
End CA:00248807 For:MVN Type:FORECAST Time:2014-03-27 16:04:34
