Skellerup shares surge, best performer on the NZX 50 Index, as profits seen rising

Thu, 22 Aug 2013

By Tina Morrison Aug. 22 (BusinessDesk) – Shares in Skellerup Holdings surged 7.4 percent, making the stock the best performer on the NZX 50 Index today, after the company beat its 2013 profit guidance and signalled higher earnings in the coming year. Shares in the industrial rubber goods manufacturer surged 10 cents to $1.45, their highest level since May 1. Skellerup made a profit of $19 million in the year ended June 30, ahead of its May 2 forecast of $17 million, but 23 percent below the year earlier $24.7 million, the Auckland-based comp...

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