Methven shares jump to 4-month high as 20% gain in first-half profit shows strategy on track

Mon, 09 Nov 2015

By Sophie Boot Nov. 9 (BusinessDesk) - Methven's shares jumped to a four-month high after the NZX-listed tap and shower manufacturer reported a 20 percent gain in six-month profit and announced a special dividend, reassuring investors that its strategy of developing and marketing new products is paying off. Methven said profit rose about 20 percent to $3.4 million in the six months ended Sept. 30, based on its old balance date, and it will pay a fully-imputed special dividend of 3 cents a share. Sales grew 7.8 percent to $52.5 million. Me...

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