Caravan builder Fleetwood Corporation has suffered an 81 per cent net profit fall as mining giants in Western Australia finish major projects.

The company's net profit in the six months to December 31 was $5.12 million, down from $26.89 million during the same period in 2011.

Chairman Michael Hardy said accommodation demand in Western Australia's Karratha region had declined at the start of the year as mining companies Rio Tinto and Woodside finished major projects.

"Occupancy at Searipple was reduced to 40 to 50 per cent of village capacity, and was lower leading up to and during the Christmas break period," he said in a statement.

The company did not provide a full-year earnings guidance, but said the outlook would improve in 2013 as the Osprey and Searipple upgrade projects in Western Australia, and the Gladstone project in Queensland, underpinned manufacturing activity.

"Fleetwood expects an improved result in the second half of the financial year," Mr Hardy said.

Lower commodity prices were blamed for falling manufacturing activity in Western Australia.

Flagging consumer sentiment was expected to affect revenue for the recreational vehicles division.

Fleetwood declared an interim dividend of 30 cents per share, down from 33 cents a year earlier.

It shares were 17 cents, or 1.71 per cent weaker, at $9.80 at 1233 AEDT.

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel