Methven shares drop to 15-month low on profit warning

Tue, 16 May 2017

By Paul McBeth May 16 (BusinessDesk) - Methven shares fell to a 15-month low after the company said it expects annual profit will fall by as much as 15 percent after steady investment didn't deliver the anticipated growth for the listed shower and tapmaker. The Auckland-based company's earnings downgrade follows an earlier warning at the first half result when Methven said it expected annual profit to rise at the lower end of earlier guidance for profit to rise by between 10-and-20 percent in the year ending June 30, from $8.6 million a...

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