Australia's ION annual profit jumps 83 percent

Newswire

SYDNEY, Aug 26 (Reuters) - Australian auto parts manufacturer ION Ltd posted an 83-percent rise in annual profit on Tuesday, bolstered by acquisitions in both Australia and New Zealand. Net profit for the year ended June 2003 rose to A$53.1 million ($34.5 million), compared to A$29 million a year earlier. ION shares have increased 18.6 percent so far this year, compared with a 5.6 percent rise in the benchmark S&P/ASX200 , as of Monday's close. The stock advanced five cents or two ...

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