A strong sign that despite all the media knockers FPA management still know what they are doing, are responding appropriately to the market, and will come out of this stronger.
What do you expect from the only surviving Australasian appliance manufacturer, arguably the most sophisticated remaining manufacture in NZ, who despite the odds over the years has progressively moved from import substitution, to exporter, to Australasian to global, selling innovative product into the US market against all comers.
Got to have respect for the management, despite all the NZ media/analyst knockers who say they lack this or that expertise - class act over the years and decades shows the depth and strength of the culture. Expect the media/analysts to be confounded tommorrow. There will be bad news, but let's see management show how well they have been on top of it.
EL
FPA Price at posting:
36.5¢ Sentiment: LT Buy Disclosure: Held