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Breville steams ahead to $50.2m profit

AAP logoAAP 25/08/2016 Andrew Leeson

From the household sandwich maker to an induction cooker in Neil Perry's Rockpool, Breville's place in homes and kitchens globally has seen its full-year profit jump 7.5 per cent to $50.2 million.

The company says its sales revenue leapt 9.4 per cent to $567.6 million in the 12 months to June 30 with North America, its biggest market, bringing in almost half of that revenue.

The Australian appliance company's North America revenue climbed 24 per cent in 2015/16, overtaking the Australia and New Zealand market.

Breville expanded also expanded its agreement with Nespresso to sell partnered coffee machines in North America in the second half of 2017.

"Despite the challenging nature of the global market, the Group was able to deliver in line with our expectations," Breville Group chief executive Jim Clayton said.

Revenue dropped slightly in the Australian and New Zealand market as discount retailers favoured their own home brands over Breville, the company said.

But the company had taken steps to refine its local business model and was expecting to see the benefits of changes in the future, Mr Clayton said.

Revenue in Hong Kong and the UK also grew over the period.

Continuing changes to its business model and global competition would make 2017 a challenging year, the company said.

The company's share price closed down five cents, or 0.63 per cent at $7.89 on Thursday.

BREVILLE'S SALES HEAT UP IN US

* Net profit up 7.5pct to $50.2m

* Revenue up 9.4pct to $567.57m

* Final dividend up one cent to 14 cents, partly franked. Full-year dividend 28.5 cents.

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