UPDATE: Tegel shares drop 10% as first-half result misses estimates

Tue, 05 Dec 2017

(Recasts, adding drop in shares, analyst comment) By Jonathan Underhill Dec. 6 (BusinessDesk) - Tegel Group shares tumbled 10 percent after New Zealand's biggest poultry producer said first-half earnings fell 2.3 percent, missing estimates and stoking concern it hasn't managed to stabilise profitability in a domestic market where competition is restraining prices. The shares fell 14 cents to $1.26. They have recovered from a record low $1.05 in May this year but remain below the $1.55 price it was sold in last year's initial public of...

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