Fisher & Paykel Appliances is expecting a significant boost in earnings as it launches a spate of new products this year.
Compared to the same period last year, the whiteware-maker's earnings more than doubled in the first four months of trading - to $12.3 million.
Speaking at the company's annual meeting in Auckland on Thursday, chief executive Stuart Broadhurst said the high New Zealand dollar hit earnings, but margins have improved.
He said it's the best start the company has had to a financial year for some considerable time.
Mr Broadhurst told investors that its bottom line will hopefully benefit from the rollout of several new products, as well as the sale of patented machinery to rivals.
He said the company is starting to diversify its earnings by moving into motors in order to get some return on its intellectual property. There are also a couple of significant contracts starting this year and in the second half of the year he expects to see a step-up in earnings from them.
Mr Broadhurst says full-year pre-tax earnings are expected to be $70-$78 million.
Meanwhile, Gary Paykel, the son of the co-founder of Fisher & Paykel, Maurice Paykel, retired from the board, ending a 52-year career with the company.
