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Last day for rights trading today. Applications for rights close Thursday.
Personally have taken up rights and applied for top-up shares, as I think this raising finally provides a firm base for SKL going forward. I also tend to think profit upgrades are more likely than downgrades this year.
The September company newsletter sounds a little brighter than the June one - although still cautious.
Currency fluctuations should be less of an issue for SKL than for most NZ-listed manufacturers, as they have attempted to diversify their geographic base to be overall currency neutral.
I currently have a 12 month price target of 70cps.
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