Methven affirms FY profit guidance, investment plans trim first-half outlook

Tue, 31 Oct 2017

By Sophie Boot Nov. 1 (BusinessDesk) - Shower and tapware designer Methven affirmed its expectation for earnings growth on a constant currency basis in 2018 but said first-half profit won't rise due to planned investment. Auckland-based Methven was projecting net profit on a constant currency basis to be 10 percent higher than the $5.8 million it posted in 2017, a period it described as "very disappointing". Chief executive David Banfield told shareholders at today's annual meeting in Auckland that the company expects flat or slightly...

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