Neptune jumps as investors punt on strong profit

The West Australian July 29, 2010, 9:33 am
Neptune jumps as investors punt on strong profit

The West Australian © Neptune jumps as investors punt on strong profit

Shares in Neptune Marine Services fell after it drew a blank to an ASX price query following a run on its shares.

The ASX noted in a so-called speeding ticket to the company that its shares had risen from 26 cents on Monday to 30 cents yesterday.

But Neptune said it was not aware of any information that had not been released to the market that might explain the rise.

Last month the company tipped a big earnings rise for the second half of 2010, partly attributable to maintenance works in the wake of the Gulf of Mexico oil disaster.

Neptune forecast $91 million in second-half revenue, up 8.3 per cent from $84 million for the December half, and tipped normalised EBIT of $5.5 million to $6.5 million for the year.

Neptune shares were off 2.5 cents, or 8.33 per cent, to 27.5 cents at 9.25am.


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