Nuplex downgrades profit forecast
Chemical's manufacturer Nuplex has cut its full-year profit forecast due to a weaker May performance and June forecast.
The company now sees an operating profit for the year to June 30 of between $121 million and $125m. This is lower than its previous guidance of $130m to $145m.
Nuplex said the updated range continued to include net costs of $2.4m from implementing the New Zealand and Australia re-organisation announced in February.
The company was confident it would maintain its dividend payout.
NZX trading stopped temporarily
Technical issues stopped trading on NZX for about 25 minutes this morning.
Just before 11am the market operator said trading would stop due to the glitch. It reopened the markets at 11.20am once the problem had been fixed.