New Zealand's Sanford Ltd falls on weak HY profit

Sanford

28/05/2020 24:07

** Shares of Sanford Ltd  SAN.NZ  fall as much as 4.9% to
NZ$7.020, their biggest intraday decline since March 23 on
weaker HY profit
    ** Fishing co posts HY statutory net profit after tax of
NZ$19 mln  ($11.74 mln), down 17% from a year ago  urn:newsml:reuters.com:*:nFWN2D90J2
    ** Co says unlikely it can make up H1 earnings shortfall in
H2
    ** Co posts HY revenue of NZ$245.5 mln, down 7% from a year
ago
    ** Stock has fallen 7.2% this year, as of last close

($1 = 1.6181 New Zealand dollars)

 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Lincoln Feast.)
 ((ShreyaMariam.Job@thomsonreuters.com;))