Breville’s Fiscal 2016 Result as Expected but Management Cautious on Outlook. FVE Unchanged
Breville Group reported a sound fiscal 2016 result in line with guidance of mid-single-digit EBIT growth. A strong performance by North America along with favourable currency movements drove the result. Australia and New Zealand were weak while Rest of the World was mixed. Net profit after tax and EBIT increased 5.9% and 7.5% year over year to AUD 50.2 million and AUD 73.7 million, respectively, which is spot on our forecasts and slightly ahead of market expectations. The final dividend was rais...Breville Group is engaged in the design, development, marketing and distribution of small electrical appliances. In Australia and New Zealand, Co. principally trades under its owned brands, Breville and Kambrook and also distributes a range of Philips products in the personal care and garment care categories under a license agreement with Philips. In North America, Co. distributes Breville branded products through several channels. In the U.K., the marketing and distribution of Co.'s designed products to retailers is under its owned brand, Sage.
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