NZ's Skellerup hits record high on stronger earnings forecast

Skellerup Holdings

18/02/2021 24:58

** Shares of polymer products manufacturer Skellerup
Holdings  SKL.NZ  rise as much as 5% to record high of NZ$4.25
    ** Raises FY21 net profit after tax (NPAT) forecast to
between NZ$33 mln ($23.73 mln) and NZ$37 mln, up from previous
range of NZ$30 mln to NZ$35 mln (https://bit.ly/2OPIXnt)
    ** Says it experienced increase in demand for its products
in December, boosting H1 results and FY21 earnings view
    ** Posts HY NPAT of NZ$19.5 mln, up 61% y-o-y; revenue of
NZ$136.6 mln, up 11% y-o-y
    ** Stock marks biggest intraday pct jump since Nov 10
    ** Biggest percentage gainer in the S&P/NZX 50 index  .NZ50 
    ** Up 10.7% this year, as of last close, vs a 3.2% decline
in the S&P/NZX 50 index


($1 = 1.3906 New Zealand dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))