Skellerup posts 7.5% drop in 1H profit, maintains full-year guidance

Wed, 15 Feb 2017

By Tina Morrison Feb. 16 (BusinessDesk) - Skellerup Holdings' first-half profit fell 7.5 percent due to weaker sales to the mining sector in Australia and higher finance costs for a new factory in Christchurch. Profit slid to $8.9 million, or 4.63 cents per share, in the six months ended Dec. 31, from $9.6 million, or 5 cents, a year earlier, the Auckland-based company said in a statement. Revenue declined 9.5 percent to $97.3 million. The result is weaker than the $100.5 million revenue and $10 million profit forecast by brokerage Forsyt...

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