Fisher Capital Equipment Update - Market slams Fisher and Paykel on profit Warning
The share market has come down hard on Fisher & Paykel Appliances - with its shares
falling 40 per cent after the company issued a profit warning today.
The whiteware...
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Fisher Capital Equipment Update - Market slams Fisher and Paykel on profit Warning
The share market has come down hard on Fisher & Paykel Appliances - with its shares
falling 40 per cent after the company issued a profit warning today.
The whiteware manufacturer s shares, which were worth $2.
94 this time last year and
worth $1 on Friday, went into free fall and are currently trading at just 60 cents, a 40
cent fall.
Earlier today the company said it expected a net profit of $25 million to $30m, down up to
54 per cent on last year.
Due to the deterioration in the New Zealand dollar, Fisher & Paykel Appliances total bank
debt grew $122 from March last year to $512m at the end of January.
It was predicted
to be $570m by the end of March.
It is now looking at reviewing its capital structure and alternative sources of capital.
Fisher Capital Equipment Update - Market slams Fisher and Paykel on profit Warning The market was very concerned the company had to come back with a capital r
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