Skellerup best performing stock after annual result blows analysts out of the water

Thu, 16 Aug 2018

By Tina Morrison Aug. 16 (BusinessDesk) - Skellerup is the best performing stock on New Zealand's benchmark index today after the maker of 'red band' gumboots blew analysts out of the water with its annual result. The company said its 2018 profit increased 23 percent to $27.3 million, ahead of its forecast range of $24.5 million to $26 million, and more in line with analyst forecasts for the 2019 year. Its shares hit a record $2.12, and were recently up 4.5 percent at $2.10, elevating them to the best one-day performer on the S&P/NZX 50 i...

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