Australia's Schaffer Corp notches best day in nearly 4 months on positive profit forecast

Schaffer

12/01/2021 24:24

** Shares of Schaffer Corp  SFC.AX  rise as much as 7.4% to
A$18.79, their biggest intraday pct gain since Sept 14, 2020
    ** The construction material producer sees H1 FY2021
statutory net profit after tax to be about A$22 mln ($16.96 mln)
compared with a profit of A$13.9 mln in H1 FY2020  urn:newsml:reuters.com:*:nASX6S94lP
    ** Also expects FY21 interim fully franked dividend to be 45
cents per share
    ** Says the automotive leather business recorded strong
sales, which were supported by launch of vehicle programmes in
Europe and China
    ** Stock trading at its highest since Jan 4
    ** Nearly 8000 shares change hands, compared with the 30-day
average volume of 2000 shares 
    ** Stock up 24.2% last year

    ($1 = 1.2975 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))