RESEND: China acquisition to underpin Methven profit growth

Wed, 30 Jul 2014

(Removes typos in second and final graph) By Suze Metherell July 30 (BusinessDesk) - Methven is counting on its new Chinese manufacturer to secure its supply and grow the company's profitability as the tap and shower maker targets up to 25 percent earnings growth this year. At its annual shareholder's meeting, new chief executive Daniel Banfield told investors the company's current performance wasn't in line "with our capability or expectations" and the addition of Methven Heshan, formerly Invention Sanitary, would increase the compet...

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