UPDATE: Skellerup shares decline after annual profit misses expectations

Wed, 20 Aug 2014

(Recasts to show profit lagged expectations, adds investor comment) By Tina Morrison Aug. 21 (BusinessDesk) - Shares in Skellerup Holdings declined after the industrial rubber goods maker missed analyst estimates for annual profit. The Auckland-based company said profit excluding Canterbury earthquake insurance payments rose 9 percent to $20.7 million in the year ended June 30, as revenue increased 4 percent to $196.6 million. That lagged expectations for profit of $23.4 million on revenue of $200.8 million, according to the mean estim...

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