Skellerup lowers earnings guidance; sees demand recovering

Thu, 25 Jun 2020

Skellerup Holdings lowered its annual earnings guidance after the covid-19 pandemic saw its costs rise and demand dwindle for some of its products. “Prior to the covid-19 outbreak, Skellerup was on track for a record result in FY20," it said, which would have trumped its record net profit of $29.1 million in the June 2019 year. “Having absorbed increased costs of operation and demand interruption in the final quarter we expect to deliver a full year NPAT in excess of $28 million,” it said in a statement. Despite the downgraded earnings...

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