Ebola: The one company profiting from the outbreak

BELIEVE it or not, there are some winners from the Ebola outbreak. One company has seen its value skyrocket by 90 per cent since the start of the year.

The company profiting from Ebola

WALL Street thinks there will soon be a bull market for hazmat suits.

Lakeland Industries, the New York maker of safety workwear, saw its shares spike as much as 17 per cent on Tuesday — its second rally in five days — as concerns about the Ebola virus spread to Spain.

Lakeland shares closed at $A11.35, up 13.9 per cent in very heavy trading.

On Tuesday, a medical worker tested positive for the deadly virus in Spain — and authorities in the country are monitoring three more potential cases.

On its web site on Tuesday, Lakeland pointed to the Ebola virus as one of the key reasons to use its product.

In September, the company expanded its hazmat suit availability to all areas of the globe.

The move sparked a 30 per cent jump in Lakeland shares on Oct. 1.

Lakeland shares are up 91 per cent so far in 2014.

The company reported its operating profit nearly doubled in the six months ended July 31, to $A2.32 million, on a 3.8 per cent rise in revenue.

This article originally appeared on the New York Post and was republished with permission.