10 Apr 2009

Skellerup issues profit warning

3:03 pm on 10 April 2009

Shares in Skellerup plunged by more than 20% to 51 cents on Thursday, after the company issued a profit warning.

The rubber products maker forecasts its full year profit will fall from $11 million to between $8 million and $9 million due to a fall in demand for its industrial products in Europe and America.

The company says its agricultural division is continuing to trade as expected.

Skellerup made a $12.6 million profit in the year to June 2008.