SALE OF FINANCE ARM POSITIVE FOR FISHER & PAYKEL

By Wares April 28, 2017 Major appliances

The sale of Fisher & Paykel Finance turned loss into profit last year for the local appliance brand.

Yesterday Haier NZ Investment Holding Co (aka Fisher & Paykel) lodged its year end result for calendar 2016 at the Companies Office.

The tale of the tape is that the company has turned a negative bottom line into a positive one, thanks to the sale last year of Fisher & Paykel Finance for $128.6 million.

  Years ended 31 December
 $m 2015 2016
Total revenue & other income
1,164.5 1,145.9
Profit/loss for the year
-57.4 +77.3

It's also interesting to drill down into the revenues from appliance sales for the various territories.

A quick calculation reveals double digit growth in the local (NZ) market, Europe and ROW, but more modest numbers from the potentially much larger North American and Australian markets.

  Years ended 31 December
Sales ($m) 2015 2016  
New Zealand 185 209 +13%
Australia 429 447 +4%
North America 195 202 +4%
Europe 112 123 +10%
Rest of world 80 107 +34%

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