CORRECT: Methven lifts 1H profit 3.4% on cost-cuts, lower tax bill

Tue, 25 Nov 2014

(Corrects chief executive's name to David from Daniel in fourth paragraph) By Suze Metherell Nov. 25 (BusinessDesk) - Methven, the NZX-listed tap and shower manufacturer and exporter, lifted first-half profit 3.4 percent as lower costs and a smaller tax bill offset a slip in sales, and expects annual earnings to be at the top end of guidance. Profit rose to $2.9 million in the six months ended Sept. 30, from $2.8 million a year earlier, the Auckland-based company said in a statement. Sales fell 1.4 percent to $48.8 million, while cost...

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