Maker of Caroma toilets and Clark kitchen sinks says that freight prices have bumped up, requiring it to offset costs.
The price rise this past July of 5 per cent came as GWA, manufacturer of Caroma toilets and Clark kitchen sinks, posted relatively flat profits for last year of $35 million.
“[It would] have been a number of years since we had that sort of increase,” GWA chief executive Urs Meyerhans told“But then, we haven’t seen these drastic increases in freight that we’ve witnessed over the last 18 to 24 months.”. GWA’s accounts show its cost of sales, which include supply chain costs, had lifted 6.3 per cent to $256.9 million.That outpaced a lift in sales revenue of 3.2 per cent to $418.7 million.
GWA shares were currently “not expensive, but the key will be how long it will take to get through the backlog of work with residential construction approvals already in decline”.Mr Meyerhans, whose remuneration hit $1.8 million, said momentum was continuing in some key markets. Commercial market work was increasing and even though renovations approvals had peaked, sales tended to flow through for the next 12 months to 15 months.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX to rise, US stocks extend mid-year rallyAustralian shares expected to open higher on Wall Street’s bullishness. Reporting on Monday: Beach Energy, Carsales, GWA Group, JB Hi-Fi.
Read more »
ASX to rise, US stocks extend mid-year rallyAustralian shares expected to open higher on Wall Street’s bullishness. Reporting on Monday: Beach Energy, Carsales, GWA Group, JB Hi-Fi.
Read more »
German industry under pressure to pivot from ChinaGerman industry is aiming to diversify away from China, but pulling back from its biggest trading partner could come at a high price.
Read more »
Bartering increases in Argentina as inflation keeps soaringArgentina reported a monthly inflation rate of 7.4 per cent in July, the highest number in two decades for a country where citizens are used to increasing prices.
Read more »
Bartering increases in Argentina as inflation keeps soaringArgentina reported a monthly inflation rate of 7.4 per cent in July, the highest number in two decades for a country where citizens are used to increasing prices.
Read more »
Beachside Merewether shack at heart of Kalyn Ponga toilet cubicle scandal revealed - realestate.com.auIt’s the $2.4m beachside home at the heart of the Kalyn Ponga toilet cubicle saga.
Read more »