Skellerup cuts earnings guidance again, blaming weak oil and milk prices

Thu, 28 Apr 2016

By Paul McBeth April 29 (BusinessDesk) - Skellerup Holdings cut its annual earnings guidance for a second time, projecting a lower profit than 2015 as weak milk, oil and gas prices around the world weigh on demand from the rubber goods maker's customers. The Auckland-based company expects to report profit of $20 million to $21 million in the 12 months ending June 30, down from a previous forecast of $23 million, which was already a downgrade. Skellerup posted a profit of $21.9 million in the 2015 financial year. Chief executive David...

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