Australia's Pacifica cuts profit outlook, shares fall

Newswire

SYDNEY, Dec 22 (Reuters) - Australian automobile parts maker Pacifica Group Ltd. cut its calendar 2004 profit outlook on Wednesday by 8 percent owing to a drop in demand from North America and Australia, sending its stock to a three year low. It also cut its 2005 outlook but flagged growth in 2006. Pacifica said it expected 2004 net profit before one-off items of about A$44 million ($34 million), below previous guidance of A$48 million. Managing Director John MacKenzie said the company ...

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