Strong 3rd Quarter Result for WSI

NEW ZEALAND WOOL SERVICES INTERNATIONAL LIMITED
Media Release
Strong 3rd Quarter Result for WSI

New Zealand Wool Services International Limited reports an unaudited tax paid profit of $5.106 million for the nine months to 31 March 2011.

The unaudited tax paid profit for the first six months ended 31 December 2010 was $3.058 million meaning a third quarter profit of $2.048 million.

As directors indicated with the six monthly announcement made on 1 February, the company was expecting to perform strongly in the second six months and this third quarter result confirms this expectation.

Scouring activity has been high during March and will continue throughout April and May with both our plants working to maximum capacity, which will ensure good processing results. The company continues to lift its market share in the all-important China market to an all-time high at the expense of greasy wool shipments.

The fourth quarter has continued strongly and while it is anticipated the latter half of the final quarter may taper off due to a shortage of wool supply directors are comfortable that the final quarter will be more than satisfactory.

While it is not customary for the company to make quarterly announcements, given the current interest in the company’s shareholding, directors believe it is important for the market to be kept fully informed.

ENDS

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