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Gold Peak on target with 15.6pc net rise

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GOLD Peak Industries (Holdings) has pushed earnings before extraordinary items up 15.6 per cent, as good profits on batteries and electrical equipment cancelled out poor sales of car audio products.

The results also include extraordinary gains of $36.3 million, thanks mostly to a $40.5 million profit from the float of Clipsal Industries (Holdings) in Singapore.

Profits before this figure for the year to March 31 were $93.1 million, in line with forecasts of many analysts.

A final dividend of 5.5 cents will take payment for the year to 10 cents a share.

Chairman and chief executive Victor Lo Chung-wing painted a bright picture of prospects in Asia and said the US market ''has bottomed out and is recovering slowly''.

''The European market, however, is expected to remain slow for a further period,'' he said.

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