Stocks of Fisher & Paykel Appliances Holdings Ltd partly-owned by China's Haier Group, has taken a significant plunge following the reports of huge increase in its first-half losses and slashing of full-year profit projections. The largest cooker and refrigerator manufacturer in the country posted a loss of NZ$82.4 million during the first half up to September 30 backed by weak demand in US and rise in material costs. Firm's acting Chief Executive Officer Stuart Broadhurst warned against around 53 percent decline in its earning in the coming quarter on accounts of low demand. Broadhurst added, "The U. S. has been bouncing along the bottom. But we don't know where the U. S. is going. It could take another downturn." The Auckland-based company that established its base in North America in 2008 to mitigate freight and labor costs and better supply the U. S, failed in its calculations, suffering an unexpected loss in the region due to weak demand. Stocks of the firm declined 7.7 percent to 60 New Zealand cents on the bourses in Wellington reporting the biggest ever single day decline since September 25.