KITCHEN and bathroom fixtures firm GWA expects rising building approvals to lead to higher sales in the second half of the current financial year.
GWA's net profit of $32.4 million in the 2012/13 financial year was down 18 per cent from $39.7 million last year.
Revenue of $565 million was down six per cent on the previous year, as sales from its bathroom and kitchen division and its hot water division fell.
Managing director Peter Crowley it was hard to assess what was ahead for the 2013/14 year.
"But gradually improving building approvals should flow through to higher sales in the second half of the financial year," he said.
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