From 'The Australian' online:"...Breville reported a net profit of $84m for the December half, up 6.7 per cent, as sales lifted 2 per cent to $905.8m. But the profit was 2 per cent below consensus forecasts, combined with a more pessimistic outlook of full-year earnings growth guidance of 5 to 7.5 per cent against market expectations of 7 per cent.
E&P Financial analyst Olivier Coulon said the net profit was slightly lower than anticipated despite a strong earnings before interest, tax, depreciation and amortisation (EBITDA) result on higher depreciation and amortisation and interest.
"Considering the relatively upbeat trading updates released by key peers De’Longhi and Groupe SEB for their CY23 3rd and 4th quarter sales we think the market will be disappointed at the weaker sales trend shown in this result," Mr Coulon said.
"While any VA consensus revisions are likely to be only modestly negative at EBIT we think the reaction today is likely to be quite negative given poorer than expected composition of results (weighted to margins and not sales)."
Breville shares are down 9.3 per cent to $24.79 in a flat overall market..."
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From 'The Australian' online:"...Breville reported a net profit...
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