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AUSTRALIA'S GWA EXPECTS FY05 NET PROFIT TO BE LOWER THAN FY04.
SYDNEY, Feb 1 Asia Pulse - Australian homeware and accessories producer GWA International Ltd (ASX:GWT) said today that it expected 2004/05 net profit to be slightly below 2003/04 as domestic demand softens in the second half.
GWA today reported a net profit of $A32.769 million ($US25.38 million) for the six months to December 31, 2004, up 3.9 per cent from the previous corresponding period.
The company said the result was achieved despite a contraction in housing and renovation activity during the half.
"All of GWA's businesses, particularly in building fixtures and fittings, have performed strongly as the market has eased and we expect a further fall in domestic demand, and increasingly competitive domestic markets, during the second half," GWA managing director Peter Crowley said.
"In this contracting domestic trading environment it is difficult to forecast the second half profit outcome.
"However we expect our full year profit after tax will be slightly below the record result of the prior year."
GWA reported a net profit of $A62.053 million ($US48.05 ...
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Source: HighBeam Research, AUSTRALIA'S GWA EXPECTS FY05 NET PROFIT TO BE LOWER THAN FY04.