18 Mar 2011

Methven warning profit could slip

10:20 pm on 18 March 2011

Tapware maker Methven is warning its full year profit could slip by up to 15% on last year's $7.8 million, due to a bad debt, tough trading conditions and the Christchurch earthquake.

It says the main reason for the decline is a potential bad debt of $700,000 in Australia.

Chief executive Rick Fala says this has been exacerbated by February's earthquake in Christchurch.