Breville boasts positive outlook

January 31st, 2012

Appliance News Small Appliances

Breville has today announced an earnings update in anticipation of its end of half year sales report due late February.

Based on preliminary results, the small appliance maker has said the group’s earnings before interest, taxes, depreciation, and amortization (EBITDA) will be in the range of $65 million and $67 million for the fiscal year 2012.

Breville has its overseas operations to thank for the boost in sales, according to acting CEO Jack Lord.

“The groups’s strong performance in the first half has been pleasing, with a standout result achieved in our North American business,” said Lord in a statement made on the Australian Securities Exchange (ASX) today.

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“Australia performed as expected in the difficult retail environment which has been widely reported.”

While the preliminary results are positive, Breville said it remained cautious on the outlook for the rest of the 2012 financial year.

“We are expecting a solid performance in FY12 underpinned by the strong results in North America with the balance of the International business continuing to perform to expectations.

Whilst trading conditions in Australia remain difficult to predict with considerable retail volatility and uncertainty, we do expect earnings’ growth in 2H12 compared to the softer second half last year,” said Lord.

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