Breville shares are soaring on sales of juicers into the US

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Australian kitchen appliance maker Breville has just posted a 12.6% rise in half-year revenue to $331.2 million on strong sales to the US.

Profit was up 4% to $30.8 million.

A short time ago, the shares had gained more than 11% to $6.73.

The North American business increased revenue by 30.8% to $151.8 million. After adjusting for exchange rate fluctuations, the rise was 10.9%.

Australian revenue fell 2.8% to $138.8 million.

“We are currently working on a number of initiatives to improve the future profitability of our ANZ business,” says CEO Jim Clayton.

Breville, whose brands include include Kambrook and whose products include juicers, coffee machines and kettles, is working on becoming a global, innovation-driven product company.

It plans to increase investment in research and development, funded by cost-cutting.

In the UK it distributes Breville designed and developed products under company-owned brand, Sage.

The company expects percentage growth for the full year in the mid-single digit range, assuming no significant change in current economic conditions.

A 14.5 cents a share dividend, franked 75%, was declared.

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