By Craig Zammit
SYDNEY: GUD Holdings managing director, Ian Campbell, has discussed the group’s recent trading performance and stated that its second half year EBIT trading looks to exceed the forecast $29.2 million reported earlier this year.
In an interview with corporatefile.com.au, Campbell said GUD Holdings has “traded broadly inline with our expectations and we now expect our trading EBIT in the second half year to modestly exceed the $29.2 million we reported in the first half”.
“Sunbeam has continued to perform solidly and has maintained a strong contribution as it continues to win market share due to the success of new products and our organic growth strategy,” Campbell said.
“Although conditions remain competitive, consumer demand has been maintained at levels we anticipated.
“As we expected, Oates and Victa are not yet performing as we’d like, but we are becoming more confident about the outlook for each business.
“Our water products business is our strong growth division and it continues to record strong growth rates in both sales and EBIT. Our core Davey products are selling strongly and we have broadened our water product offering via acquisitions.
“Automotive products and security products are trading as expected,” he said.
Campbell was cautious in his predictions for the year ahead.
“We report our full year results for FY07 on July 26 and we don’t wish to comment on the outlook until then. What is apparent though is that all our businesses remain focussed on cost reduction and are well placed to generate solid share holder returns.”