Breville cooks up profit, shares jump

Appliance giant Breville's shares have soared on the back of a full year profit rise of 8.7 per cent to $58.5 million.

Shares in Breville have jumped more than 12 per cent after the appliance maker announced its full-year profit rose 8.7 per cent to $58.5 million.

Total revenue for the 12 months to June 30 was up 7.7 per cent, to $652.3 million.

The company's North American business was its star performer - growing 16.3 per cent on a constant currency basis to $303.6 million - in part due to the extension of its partnership with Nespresso in the region.

The agreement, which is already in place in Australia, allows Breville to sell co-branded Nespresso coffee machines.

Australia and New Zealand revenue grew 9.1 per cent to $123.9 million, despite the "somewhat challenged retail environment".

Breville, which counts Solomon Lew's Premier Investments as a key investor, plans to enter Belgium, Germany the Netherlands and Luxembourg in the 2018/19 financial year, as well as launch a new pizza oven in the USA during the holiday period.

The company declared a partially-franked final dividend of 16.5 cents per share, up 1.5 cents from a year earlier.

At 1530 AEST, Breville's shares were up $1.45, or 12.46 per cent, to $13.09.

BREVILLE COOKS UP FY PROFIT:

* Net profit up 8.7pct to $58.5m

* Revenue up 7.7pct to $652.3m

* Final dividend up 1.5 cents to 16.5 cents, partially franked


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Source: AAP



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