New Zealand's Skellerup hits over 3-month low on weak HY results

Skellerup Holdings

13/02/2020 03:46

** Shares of Skellerup Holdings Ltd  SKL.NZ  fall as much as
3% to NZ$2.27, their lowest since Nov. 4, 2019
    ** The polymer products manufacturer posts HY net profit
after tax of NZ$12.1 mln ($7.81 mln), down 10% from a year ago
 urn:newsml:reuters.com:*:nNZW15CPMT
    ** Co declared an interim dividend of 5.5 NZ cents per share
and expects FY20 earnings to be consistent with FY19
    ** Skellerup also flags temporary impact to its supply chain
from the coronavirus epidemic
    ** Stock posts its biggest intraday percentage drop since
Feb. 4
    ** More than 179,000 shares change hands, compared with the
30-day average volume of about 72,000 shares
    ** Stock is among the top losers on the benchmark S&P/NZX 50
index  .NZ50  



($1 = 1.5501 New Zealand dollars)

 (Reporting by R.R.Deepti Sri in Bengaluru)
 ((Deepti.sri@thomsonreuters.com))