Skellerup beats guidance with 23 percent drop in FY profit

Wed, 21 Aug 2013

By Tina Morrison Aug 22 (BusinessDesk) – Skellerup, the industrial rubber goods manufacturer, beat its guidance with a 23 percent decline in annual profit following a pickup in the last two months of the financial year. Skellerup made a profit of $19 million in the year ended June 30, ahead of its May 2 forecast of $17 million, but below the year earlier $24.7 million, the Auckland-based company said in a statement. Revenue fell 8.6 percent to $189.5 million on lower sales in its industrial division. In May it forecast a profit of $17 million...

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