21 Oct 2010

Sanford share boost on profit rise prediction

10:57 am on 21 October 2010

Shares in Sanford rose almost 7% on Wednesday, after the fishing company lifted its profit forecast for this year.

Sanford says its after-tax profit is likely to be $25 million, well ahead of analysts' forecasts.

It says revenues for last six months of this year are up 14% on the same period last year to $420 million, thanks to rising prices and improved margins, which helped offset the strong dollar.

Sanford shares rose 28 cents to close at $4.40 on Wednesday