Methven cautiously optimistic about second half performance

Thu, 28 Nov 2013

By Tina Morrison Nov 29 (BusinessDesk) – Methven, the tapware maker, confirmed a 21 percent rise in first half earnings and said it was “cautiously optimistic” about the remainder of the year. Net income rose to $2.8 million in the six months ended Sept. 30, from $2.3 million in the year earlier period, the Auckland-based company said in a statement, confirming figures it first flagged on Oct. 15. Sales fell 1.8 percent to $49.4 million. Methven is betting an improved performance in the first half will continue for the remainder of the year,...

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