New Zealand based designer and manufacturer of household appliances Fisher & Paykel Appliances Holdings Ltd
(ASX:FPA) has revised its guidance for normalised net profit after tax for the full year due to volatile market conditions.
The company extended its profit forecast from a range of NZ$20 million to NZ$23 million to now be within a range of NZ$16 million and NZ$23 million.
Fisher & Paykel Appliances also says net profit after tax and abnormal levels for fiscal 2010 is forecast at a loss of around NZ$58 million to NZ$65 million due to impairments and fair valuation write-downs associated with North America.
The group reported a first half loss of NZ$847,000 but says it has had a solid start to the second half.
The company says its Finance business has continued to perform above expectations in October and earnings in its Appliances business were close to forecast in October with sales volumes in November expected to finish in line with forecast.
Fisher & Paykel Appliances posted a loss of NZ$95 million in 2009.
