This is a preemptive Share Price Alert for Fisher & Paykel Appliances [FPA.NZX] after a reasonable profit result for the 2011 full year. After sustaining years of losses, struggling for the last 5 years, and going into financial meltdown in 2009 where it had to be rescued by Haier, the company has just posted a profit north of $30 million.
A pretty good result in the current financial climate and after a year and a half on a share price in the penny dreadful status this result looks set to propel the share price well above the closing price of 55.5c yesterday and back above the 1 buck level.
Of course the company has had rollercoaster results like this before when they have showed improvements in financial operations then disappointed at the next result so a word of caution must be stated before climbing back into this one.
Some good money can be made here though for those willing to buy today and coming week and hold for a short to medium term then run for the hills with the spoils.
Anything under a buck should see some black ink in the wallet over the coming weeks.
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