NZ's Skellerup drops as company withdraws FY outlook on virus impact

Skellerup Holdings

29/03/2020 23:37

** Shares of Skellerup Holdings Ltd  SKL.NZ  fall as much as
5.1% to NZ$1.68, marking their biggest intraday percentage loss
in a week
    ** Polymer products manufacturer withdraws prior forecast of
FY20 net profit after tax to be consistent with result achieved
in the prior corresponding period  urn:newsml:reuters.com:*:nNZW6sjPVT
    ** Says given the restrictions and uncertainty due to
COVID-19, earnings for Q4 and FY20 will be lower than previously
projected
    ** SKL adds some facilities will operate at reduced levels
or close temporarily during the next month as company focuses on
producing and delivering essential products.
    ** Stock down 26.9% this year, as of last close

 (Reporting by Deepali Saxena; Editing by Peter Cooney)
 ((Deepali.Saxena@thomsonreuters.com;))