By Martin Vedris
SUNSHINE, VIC: The news is positive for Sunbeam with its parent company, GUD Holdings, today revealing in its half yearly results that earnings for Sunbeam products is on par with the same period last year.
GUD Holdings, which comprises four divisions (consumer, automotive, water and security) reported a two per cent decline overall in trading EBIT to $32.6 million, down from $33.2 million in the half year ended 31 December 2008.
Sales of GUD Holdings also dropped three per cent to $237.3 million, down from $244.8 over the previous corresponding period.
However, the news is better for Sunbeam, which is part of the company’s consumer products division along with cleaning products company, Oates. Sales of the company’s consumer division declined just one per cent from $127.7 million in the same period last year, but the EBIT for the consumer division remained steady with no change year on year.
In comparison, sales for the corresponding period were up six per cent in the company’s automotive division, which includes Ryco brand filters. However automotive EBIT was down four per cent.
The report today stated that “strong consumer demand for Sunbeam brand products led to solid performance from that business in Australia”.