Skellerup boosts profit forecast

Skellerup Holdings says it expects to exceed current market profit expectations for the year ended June 30, 2011, owing to improved revenues and earnings across both its agriculture and industrial divisions during the first five months of the current financial year.

Skellerup expects net profit after tax for the 2011 year to be in the range of $18.5 million to $19.5 million. This is up from the $16 million to $17 million previously advised.