The share market has come down hard on Fisher & Paykel Appliances - with its shares falling 40 per cent after the company issued a profit warning today.
The whiteware manufacturer's shares, which were worth $2.94 this time last year and worth $1 on Friday, went into free fall and are currently trading at just 60 cents, a 40 cent fall.
Earlier today the company said it expected a net profit of $25 million to $30m, down up to 54 per cent on last year.
Due to the deterioration in the New Zealand dollar, Fisher & Paykel Appliances' total bank debt grew $122 from March last year to $512m at the end of January. It was predicted to be $570m by the end of March.
It is now looking at reviewing its capital structure and alternative sources of capital.
Fisher Capital Equipment Update - Market slams Fisher and Paykel on profit Warning - The market was very concerned the company had to come back with a capital raising, which was unexpected, said Hamilton, Hindin, and Greene director Grant Williamson.
The home appliance market had dropped off in all areas Fisher & Paykel exported to and there did not appear to be too many signs of a turnaround in world housing at the moment, he said.
"I think investors are starting to say; how long is it going to be before conditions change for the company? I think that's the biggest concern."
Williamson said Fisher & Paykel Appliances' wares were sold into most new homes but when very few new homes being built it would have a serious effect on their sales.
A 40 per cent drop in share value was a big hit for the share price to take but that was the general state of the market.
"If any company disappoints the market then the market is very harsh on their share price and we have certainly seen that this morning with Fisher & Paykel Appliances."
The company announced it would not proceed with a capital note issue and was looking an alternative source of capital.
The directors were considering the merits of issuing equity, including to a cornerstone investor.
Williamson said he did not believe a capital notes rising would have been particularly well received.
He did not see any short term bounce in the price until there was clarification around the structure of equity rising. That was expected to be announced in early March.
"At the moment there's still a fair degree of selling in the market place, around the 60c level."- NZPA
Monday, January 24, 2011
Newsvine - Fisher Capital Equipment Update – Market slams Fisher and Paykel on profit Warning
The share market has come down hard on Fisher & Paykel Appliances – with its shares falling 40 per cent after the company issued a profit warning today.
The whiteware manufacturer's shares, which were worth $2.94 this time last year and worth $1 on Friday, went into free fall and are currently trading at just 60 cents, a 40 cent fall.
Earlier today the company said it expected a net profit of $25 million to $30m, down up to 54 per cent on last year.
Due to the deterioration in the New Zealand dollar, Fisher & Paykel Appliances' total bank debt grew $122 from March last year to $512m at the end of January. It was predicted to be $570m by the end of March.
It is now looking at reviewing its capital structure and alternative sources of capital.
Fisher Capital Equipment Update – Market slams Fisher and Paykel on profit Warning – The market was very concerned the company had to come back with a capital raising, which was unexpected, said Hamilton, Hindin, and Greene director Grant Williamson.
The home appliance market had dropped off in all areas Fisher & Paykel exported to and there did not appear to be too many signs of a turnaround in world housing at the moment, he said.
"I think investors are starting to say; how long is it going to be before conditions change for the company? I think that's the biggest concern."
Williamson said Fisher & Paykel Appliances' wares were sold into most new homes but when very few new homes being built it would have a serious effect on their sales.
A 40 per cent drop in share value was a big hit for the share price to take but that was the general state of the market.
"If any company disappoints the market then the market is very harsh on their share price and we have certainly seen that this morning with Fisher & Paykel Appliances."
The company announced it would not proceed with a capital note issue and was looking an alternative source of capital.
The directors were considering the merits of issuing equity, including to a cornerstone investor.
Williamson said he did not believe a capital notes rising would have been particularly well received.
He did not see any short term bounce in the price until there was clarification around the structure of equity rising. That was expected to be announced in early March.
The whiteware manufacturer's shares, which were worth $2.94 this time last year and worth $1 on Friday, went into free fall and are currently trading at just 60 cents, a 40 cent fall.
Earlier today the company said it expected a net profit of $25 million to $30m, down up to 54 per cent on last year.
Due to the deterioration in the New Zealand dollar, Fisher & Paykel Appliances' total bank debt grew $122 from March last year to $512m at the end of January. It was predicted to be $570m by the end of March.
It is now looking at reviewing its capital structure and alternative sources of capital.
Fisher Capital Equipment Update – Market slams Fisher and Paykel on profit Warning – The market was very concerned the company had to come back with a capital raising, which was unexpected, said Hamilton, Hindin, and Greene director Grant Williamson.
The home appliance market had dropped off in all areas Fisher & Paykel exported to and there did not appear to be too many signs of a turnaround in world housing at the moment, he said.
"I think investors are starting to say; how long is it going to be before conditions change for the company? I think that's the biggest concern."
Williamson said Fisher & Paykel Appliances' wares were sold into most new homes but when very few new homes being built it would have a serious effect on their sales.
A 40 per cent drop in share value was a big hit for the share price to take but that was the general state of the market.
"If any company disappoints the market then the market is very harsh on their share price and we have certainly seen that this morning with Fisher & Paykel Appliances."
The company announced it would not proceed with a capital note issue and was looking an alternative source of capital.
The directors were considering the merits of issuing equity, including to a cornerstone investor.
Williamson said he did not believe a capital notes rising would have been particularly well received.
He did not see any short term bounce in the price until there was clarification around the structure of equity rising. That was expected to be announced in early March.
China: Market Overview 1st Quarter 2010 Fisher Capital Management Korea
China: Market Overview 1st Quarter 2010 Fisher Capital Management Korea Fisher Capital Management Seoul Korea - April is going to set the tone for the world economy depending on how China is labeled by the US and China’s reaction to it. Our gut feeling is that apart from the rhetoric — which is in the air with respect to the Yuan-dollar rates, China’s current account surplus and internet independence — neither of them will rock the boat. Already five prominent members of the G20 — South Korea, Canada, France, the US and the UK — have sent a coded warning to China against reneging on economic agreements. Perception of China and the US in international relations is far apart. According to China, the main issues are Taiwan and the sale of arms to Tibet and for the US the issues are the Yuan-dollar rate, trade surplus and Internet freedom. China: Market Overview 1st Quarter 2010 Fisher Capital Management Seoul Korea - Under the Omnibus Trade and Competitiveness Act of 1988, the U. S.
New Options in Guided Boring, Fisher Capital Equipment Management Update -
The Akkerman team, continually committed to increasing the versatility of our products, recently launched several new components for our GBM line of equipment.
Fisher Capital Equipment leasing news update from different suppliers. Fisher Capital Equipment Management leasing gives you fresh events and updates on Construction Machineries, Suppliers Directory and Others to keep away from scam from Unsolicited, "Pre-Qualified credit line" mass mailings
The Powered Reaming Head (PRH) upsizing kit for its Guided Boring Machine (GBM) system was released. This GBM accessory allows owners to bore multiple pipe diameters with just one set of 11” OD (279 mm) thrust casings and augers. The base 14” (356 mm) OD PRH unit features 16” (406 mm) and 20” (508mm) OD increaser kits and corresponding pipe adapter rings to
accommodate up to 20” (508 mm) OD pipe. All PRH components rest on a customized rack for ease of transport and orderliness on the job site. The PRH front and rear sections can be launched separately to accommodate minimal diameter shafts. The PRH kit performs well with all Akkerman power packs and jackingframes.
The P150Q Power Pack provides hydraulic power to the GBM jacking frame and Powered Cutter Head for smooth and efficient operation. The P150Q houses a 154 HP (115 kw) diesel engine.
Its three load-sensing variable displacement axial piston pumps independently operate the jacking, rotation and PCH. It also features a 100 gal (378 L) fuel tank and 50 gal (189 L) hydraulic
oil reservoir.
The Jetting and Lubrication pump underwent a design reconfiguration for enhanced compactness. It features independent hydrostatic flow connections, bulkhead connections for pressure and return lines and an easily serviceable open/close valve on the tank outlet. Customers may choose the 3,000 rpm, 30 HP (7 kW) diesel engine or 1,750 rpm, 30 HP (7 kW) electric motor. Each 325 gal (1,230 L) tank is positioned side-by-side on a pallet-like base. The 2,500 psi (17,237 kPa) high-pressure jetting pump assists the GBM system’s excavation process by lubricating cutter bits and spoils. An in-line suction filter protects the pump from contaminants in the water. The 150 maximum psi (1,034 kPa) lubrication pump flows at 4gpm (15 L/min) and features an agitator which mixes the lubrication quickly and keeps it consistent
throughout production.
For more information on these and other GBM products, please contact our friendly sales staff or an international representative.
Akkerman Inc. is positioned for sales in new markets with recently established representation
in the Middle East, India, Russia and Singapore. Agreements with Trenchers Land Digging & Filling LLC, based in the United Arab Emirates, Asia Contech Ltd. of India, Intertorg Russia and
ICE Far East in Singapore pioneer exciting prospects for Akkerman Inc. worldwide. Trenchers Land Digging & Filling LLC of Dubai recently facilitated the sale of a complete Guided Boring Machine (GBM) system for a Kuwait contractor. This sale denotes the first GBM system sold in the Middle East as well as the most powerful pilot tube microtunneling configuration available. The 4812A jacking frame with 200 tons of thrust, 275T power pack, Powered Cutter Head and Jetting and Lubrication pump will install DN 300-1,000 mm pipes for drives up to 150 m long. Asia Contech Ltd. of New Delhi, providing sales and service of Akkerman equipment in India, also represents trenchless companies American Augers, ASTEC and Trencor. ICE Far East of Singapore, a south east Asia office for International Construction Equipment (ICE) will represent Akkerman in this region. Intertorg of Moscow, a US based company with expertise in the Russian trenchless market, has been a longtime dealer for Ditch Witch and previously represented Lovat, Soltau and MTS equipment.
Akkerman welcomes these organizations into its community of sales representatives. Tunnel
Engineering Services in the United Kingdom, Ditch Witch of Australia, Virtual Engineering of
Columbia and the Alinea Group of Mexico have been agents of Akkerman for many years.
Additional representatives have been appointed in Egypt, Turkey, Bulgaria, Poland, Brazil, Italy
and Pakistan. For a full listing of equipment representatives, please review the “Contact Us”
page on the Akkerman website.
Fisher Capital Equipment leasing news update from different suppliers. Fisher Capital Equipment Management leasing gives you fresh events and updates on Construction Machineries, Suppliers Directory and Others to keep away from scam from Unsolicited, "Pre-Qualified credit line" mass mailings
The Powered Reaming Head (PRH) upsizing kit for its Guided Boring Machine (GBM) system was released. This GBM accessory allows owners to bore multiple pipe diameters with just one set of 11” OD (279 mm) thrust casings and augers. The base 14” (356 mm) OD PRH unit features 16” (406 mm) and 20” (508mm) OD increaser kits and corresponding pipe adapter rings to
accommodate up to 20” (508 mm) OD pipe. All PRH components rest on a customized rack for ease of transport and orderliness on the job site. The PRH front and rear sections can be launched separately to accommodate minimal diameter shafts. The PRH kit performs well with all Akkerman power packs and jackingframes.
The P150Q Power Pack provides hydraulic power to the GBM jacking frame and Powered Cutter Head for smooth and efficient operation. The P150Q houses a 154 HP (115 kw) diesel engine.
Its three load-sensing variable displacement axial piston pumps independently operate the jacking, rotation and PCH. It also features a 100 gal (378 L) fuel tank and 50 gal (189 L) hydraulic
oil reservoir.
The Jetting and Lubrication pump underwent a design reconfiguration for enhanced compactness. It features independent hydrostatic flow connections, bulkhead connections for pressure and return lines and an easily serviceable open/close valve on the tank outlet. Customers may choose the 3,000 rpm, 30 HP (7 kW) diesel engine or 1,750 rpm, 30 HP (7 kW) electric motor. Each 325 gal (1,230 L) tank is positioned side-by-side on a pallet-like base. The 2,500 psi (17,237 kPa) high-pressure jetting pump assists the GBM system’s excavation process by lubricating cutter bits and spoils. An in-line suction filter protects the pump from contaminants in the water. The 150 maximum psi (1,034 kPa) lubrication pump flows at 4gpm (15 L/min) and features an agitator which mixes the lubrication quickly and keeps it consistent
throughout production.
For more information on these and other GBM products, please contact our friendly sales staff or an international representative.
Akkerman Inc. is positioned for sales in new markets with recently established representation
in the Middle East, India, Russia and Singapore. Agreements with Trenchers Land Digging & Filling LLC, based in the United Arab Emirates, Asia Contech Ltd. of India, Intertorg Russia and
ICE Far East in Singapore pioneer exciting prospects for Akkerman Inc. worldwide. Trenchers Land Digging & Filling LLC of Dubai recently facilitated the sale of a complete Guided Boring Machine (GBM) system for a Kuwait contractor. This sale denotes the first GBM system sold in the Middle East as well as the most powerful pilot tube microtunneling configuration available. The 4812A jacking frame with 200 tons of thrust, 275T power pack, Powered Cutter Head and Jetting and Lubrication pump will install DN 300-1,000 mm pipes for drives up to 150 m long. Asia Contech Ltd. of New Delhi, providing sales and service of Akkerman equipment in India, also represents trenchless companies American Augers, ASTEC and Trencor. ICE Far East of Singapore, a south east Asia office for International Construction Equipment (ICE) will represent Akkerman in this region. Intertorg of Moscow, a US based company with expertise in the Russian trenchless market, has been a longtime dealer for Ditch Witch and previously represented Lovat, Soltau and MTS equipment.
Akkerman welcomes these organizations into its community of sales representatives. Tunnel
Engineering Services in the United Kingdom, Ditch Witch of Australia, Virtual Engineering of
Columbia and the Alinea Group of Mexico have been agents of Akkerman for many years.
Additional representatives have been appointed in Egypt, Turkey, Bulgaria, Poland, Brazil, Italy
and Pakistan. For a full listing of equipment representatives, please review the “Contact Us”
page on the Akkerman website.
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