Third-quarter profit for SodaStream International has sank to 76% and revenue has fallen below analysts’ expectations, as the company continues to work through a restructuring. SodaStream, which popularised the notion of make-it-at-home soda, is recasting itself as a sparkling water dispenser after hiring a two-star Michelin chef to concoct flavors like “raspberry lychee rose” amid rising competition.
Healthy sales of refrigerators, washing machines and other whitegoods in Japan and the rest of Asia helped to push Panasonic’s group net profit up 38% year over year to US$914 million for the April-September half. Meanwhile, strong sales of surveillance cameras and in-flight entertainment systems helped operating profit to grow 13% to 200.4 billion yen, topping 200 billion yen for the first time in seven years.
Harvey Norman saw its annual net profit for fiscal 2015 lift by 26.6 % to $268.1 million, from $211.70 million in 2014. Excluding property revaluations, annual net profit was up 19% to $261.84 million, from $220.1 million. Harvey Norman chairman, Gerry Harvey has attributed the growth outlook for the property market in Australia as positive, pointing to new starts, renovation expenditure, and secondary market clearance rates as significant drivers.
Kmart, once the poor cousin of chain stores, has risen phoenix-like with improved earnings before interest and tax of 18% ($432 million) and delivered a remarkable return on capital of almost 33% for parent Wesfarmers. The company delivered these results to the ASX yesterday and said it “remains proud and happy to be a conglomerate” after its retail businesses offset weakness in its industrial operations to lift group underlying earnings 8.3% higher in the year to June 30.
Breville’s CEO, Jim Clayton said a new business management software system and discounting by retailers saw its 2015 full-year net profit fall 4.3% to $46.68 million. Revenue declined 2.7% as it rolled out home-branded products in Australia/New Zealand.