Sharechat Logo

Liz Coutts named as new chair of Skellerup

Wednesday 18th January 2017

Text too small?

Liz Coutts has taken over as chair of industrial rubber goods maker Skellerup Holdings, with Selwyn Cushing stepping down after 10 years in the role. 

Coutts has been on the board since 2002 and chairs Skellerup's audit and risk management committee. She is also chair of Oceania Healthcare, Ports of Auckland and fishing company Urwin & Co, and is a director of Ebos Group, Sanford, Yellow Pages and Tennis Auckland. 

Cushing remains one of the company's six directors and Skellerup's largest shareholder, Coutts said.

"Selwyn has been an outstanding chairman," Coutts said. "Under his leadership, Skellerup has greatly improved its performance to deliver shareholders consistent financial results, a robust financial position and increased dividends. His are big shoes to fill."

In October last year, Skellerup said it expected annual profit to rise as much as 7 percent to between $20 million and $22 million, recovering from the prior year's decline, as it put greater emphasis on potable water applications and food safety.

Skellerup's 2016 earnings were hit by a downturn in demand from its agricultural business, which provides rubber products to the dairy industry, as weak milk prices prompted the postponement of some spending.

The shares last traded at $1.55 and have gained 8.4 percent in the past year.

 

BusinessDesk.co.nz

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ shares fell on global growth concerns
New Zealand dollar becalmed ahead of CPI data
Billionaire Aussie miner moves businesses to NZ in 'quixotic' CER gambit
RBNZ plucks bank capital numbers out of the air: Reddell
Genesis coal burn reached 5-yr high in 'unprecedented' conditions
Govt part-funds another $11m of low-emissions transport projects
January 22nd Morning Report
NZ dollar stalled ahead of CPI data; IMF trims global outlook
MARKET CLOSE: NZ stocks gain; investors seek value ahead of earnings season
NZ dollar drifts lower ahead of CPI; China GDP as expected

IRG See IRG research reports