29 Nov 2010

Tapware maker Methven lifts profit

1:48 pm on 29 November 2010

Listed showerhead and tapware maker Methven has lifted its half year profit by 8.3% despite mixed trading conditions.

The company's profit rose to $4.5 million in the six months to the end of September, but it's operating revenue fell by 7.7% to $63 million.

Methven chief executive Rick Fala says its operations in Australia, where profit grew 214%, helped to bolster its half-year results, and offset the decline in profitability in the UK.

The group's operating revenue in Australia grew more than 10% to $A20.4 million, helped by the design of its shower and tap products.