The Breville Group Ltd share price just hit a 52-week high

It has been yet another good day for the Breville Group Ltd (ASX: BRG) share price.

The appliance manufacturer’s shares jumped 1.3% in morning trade to reach a new 52-week high of $11.10. This means that Breville’s shares have now risen over 28% year-to-date.

The catalyst for this strong gain was its solid half-year result and positive outlook.

In February Breville reported a 9.4% increase in net profit after tax to $33.7 million thanks to improvements in its margins and strong sales growth in the Australia and New Zealand markets.

Although it didn’t provide specific full-year guidance, management advised that it expects the second half to be consistent with its first-half performance.

It’s not just Breville flying higher. The shares of its industry peer GUD Holdings Limited (ASX: GUD) are also trading at a 52-week high today as well.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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