Business Services Industry
Exports drive ION's 118pc gain.
Australasian Business Intelligence, February, 2003
Feb 25, 2003 (The Australian Financial Review - ABIX via COMTEX)
Melbourne-based vehicle parts maker, ION, boosted net profit by 118 per cent in the 2002-03 first half to $A25.32 million. The company expects record full-year earnings of $A50 million-plus, driven by growth of exports to South Korea and the US. ION is the exclusive supplier of alloy wheels and hubs to Harley-Davidson. It is also a supplier of hollow cast products to General Motors. Earnings were boosted by the first full-half contribution from former BTR Automotive Transmissions, acquired by ION in April 2002. ION's share price gained $A0.02 on presentation of the result on 25 February 2003 to $A2.20.
Publication Date: 26 February 2003
ION LIMITED - ASX ION:
BTR...
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