NZ-BASED FISHER & PAYKEL FORECASTS LOWER FY NET PROFIT.

AsiaPulse News, August, 2004

SYDNEY, Aug 16 AAP - New Zealand-based Fisher & Paykel Appliances (ASX:FPA) expects its net profit for 2004/2005 to be about $NZ5 million (US$3.31 million) less from last year's record result, after warning of potential cost pressures over the coming year.

The company said today it expected to post a full year net profit of about $NZ80 million ($A74.51 million), compared to last year's record $NZ85.31 million, announced in May.

Speaking at the company's annual shareholder meetingin Auckland, the newly appointed chief executive John Bongard said the appliance manufacturer had continued to trade at a similar level to that of last year.

However, he warned that increases in cost for steel, plastics copper and other raw materials had "adversely impacted...