re: Ann: Financial Statements for 6 Months En... Muzzarati,Imho...

re: Ann: Financial Statements for 6 Months En... Muzzarati,

Imho they have already repositioned the business.

The lower end of the market was always going to be eaten by the Chinese or someone else cheap. I think in Haier they've picked a winner and just as Australasian distributor for Haier will be creating a lucrative long term business - but this will take time to come to fruition.

In the technology side they have repositioned to leverage this a lot more.

On manufacturing they've repositioned, Thailand worked, but Mexico hasn't been such a success, largely due to the collapse of their US market.

I find there marketing hard to criticise gven their retained hold on market share in the Australasian market, and their past penetration of the US market is testament to their rare position as Australasian based consumer goods manufacturer/marketer, even the more so as a NZ one.

Clearly they have made misjudgements, including on marketing, but these are tough times, credit where credit is due.

EL

EL