Methven lifts annual earnings to $6.5m

Methven yesterday posted a net profit of $6.5 million for the year ended March, up 5.3 per cent on its prospectus forecast and 30.7 per cent higher than the previous year.

The company said New Zealand sales figures exceeded targets in the second half of the year and pushed full-year operating revenues to $54.8 million - 3.7 per cent higher than forecast. It would increase its fully imputed dividend for the four-month period between listing through to March 31, to 2.54c a share from the forecast 2.42c.