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Oates owner’s profit soars

525017_418705241530543_1710531129_nThe company behind Sunbeam kitchen appliances and Oates cleaning products has almost doubled its annual profit as sales rose to record levels.

GUD Holdings made a net profit of $33.2 million in the year to June 30, up 88 per cent from $17.7 million in the prior year.

Sales rose three per cent from the previous year to a record $612 million, while lower freight, logistic and warranty costs also contributed to the profit growth, the company said.

AAP

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