By Patrick Avenell
SYDNEY, NSW: Breville Group, supplier of Breville-, Kambrook- and some Philips-branded small appliances and personal care products, today announced a profit forecast exceeding previous expectations.
Company secretary Shiraz Khan today reported to the Australian Securities Exchange forecasted earnings before interest, tax, depreciation and amortisation of around $38.5 million. Full year net profit after tax is expected to be just under $20 million.
After adjustments, Breville expects this net profit after tax to increase to around $21 million.
“We have seen an improvement in trading particularly in Breville’s core Australian and North American markets,” said Breville CEO Stephen Audsley. “Sales in the first four months of the financial year have been pleasing and trading conditions continue to show positive signs during the important pre-Christmas sell-in period.
“Based on current trading conditions, our strong momentum is expected to accelerate the growth on the previous corresponding period as we head into the second half.
“Breville has also begun to realise the benefits of recent cost reductions and is well positioned to benefit from any improvements in economic and retail conditions in markets in which we participate.”