profit warning after the bell

i think a few of these will be hurt by slower housing

Sydney - Thursday - Dec 16: (RWE Australian Business News) -
Wattyl Ltd today warned its net profit before one-off items would be
between $8 million and $9 million in the half-year to December 31.
This compares with a net profit before one-off items of $10.8
million in the six months to December 31 2002.
The profit downgrade was due to continued softness in demand for
coatings and further pressures on raw material costs, as anticipated at
the annual general meeting in October.
"While the company has several initiatives under way to improve
second-half earnings, at this stage it is anticipated that these will be
in a similar range to the first half," managing director Mr Ian Jackson
said.
One-off items associated with the sale of Wattyl's US businesses
are expected to have a positive impact of $4 million to $5 million on
first-half earnings.
Wattyl is reviewing its manufacturing and logistics operations
with the objective of reducing its fixed cost base and improving
customer service.
"While several options are being reviewed, no decisions have
been taken at this stage," Mr Jackson said.
Results for the first half will be announced February 23 2005.
The profit warning was made after the close of trading.
Shares in Wattyl rose 3c to $3.90 today.
ENDS