Schaffer shares rose to a record high after the company promised increased dividends and a 27 per cent net profit improvement to $16.6million for 2002-03. Managing director John Schaffer forecast a first-half net profit of approximately $9.8million, up 46per cent on the $6.7million reported in the previous corresponding period. Mr Schaffer added that for the second-half to June 30, 2003 the company forecast a net profit of $6.8million, up from $6.3million. AAP
