Not Gud: Appliance Maker 30% Profit Slump

Written by Oonagh Reidy     16/12/2013 | 09:51 | Category: APPLIANCES

Sunbeam maker predicts profit dip of 30% FY14

Not Gud: Appliance Maker 30% Profit SlumpGud Holdings predicts profit slump as November's trading falls short, according to a trading update the ASX issued Friday. 

"If this November trend continues, the board anticipates the first half of FY14 underlying profit before interest and tax to be approximately 30% below the prior comparative period," the company warned. 

Gud Holdings will announce its first half results in January 21, but says there is "no reason" why the full year result will be outside guidance. 

In 2012, the company reported net profit (after tax) of $92.8m, but warned in October AGM that 2014 earnings would be 20% lower than FY13.  

Shares fell as much as 10% closing at $5.15 on Friday.