By Claire Reilly

Fisher & Paykel yesterday held an Investor Day to share its company message with shareholders and outline its strategy for the company going forward.

As a part of the information session, F&P CEO Stuart Broadhurst outlined a short-term agenda for the company’s appliance business, which will continue to drive the company into 2012. The agenda focused on seven key areas for the company, some of which have already been actioned and others which are in progress.

The seven points include commitments to reduce debt levels (down from $502 million in May 2009 to a current level of $94 million); a focus on components and technology, new product development, product quality and brand reinvestment; the improvement of profitability in North America; and continuing the strong relationship with Haier.

In terms of technology and products, the company said it would “grow [its] technology and component business to diversify revenue and earnings” and that it had three major contracts signed and an “active programme to build this business”.

Click here to sign up for our FREE daily newsletter
Follow Current.com.au on Twitter

Additionally, the company has committed to a “strong pipeline of new products” which will be rolled out across the 2012 and 2013 financial years, as well as a renewed focus on product quality that will see an “investment in systems and structures” and “significant reductions in the cost of warranty claims”.

To reiterate this focus on product, Broadhurst outlined the investments the company had already made in the area and the concrete results that they were delivering. This included references to a new washing machine range rolled out in Australia and New Zealand in June 2011, The DishDrawer Dishwasher launched in late 2011, and the Gas on Glass Cooktop, due in March 2012.

According to Broadhurst, F&P’s brand focus has been strengthened by an ongoing global brand positioning project, stating that “significant progress has been made on delivering a unified and consistent global branding message” – including consistency in showroom displays and point of sale.

In North America – a market that F&P has been in for over 10 years – Broadhurst said there was “significant opportunity” and the company was working to reduce its cost base and focus on profitable sales in the United States and Canada.