Shriro (ASX:SHM) share price hits multi-year high today. Here’s why

The Shriro Holdings Ltd (ASX: SHM) share price is rocketing higher today. This comes after the company released a positive trading update and outlook for its full-year results.

During afternoon trade, the Shriro share price hit a multi-year high of $1.02. Although its shares have since retreated somewhat, the Shriro share price is up 15% to 92 cents in today’s session. In comparison, the All Ordinaries Index (ASX: XAO) is 0.6% lower to 6,922 points.

Quick take on Shriro

Shriro is a leading kitchen appliances and consumer products group that markets and distributes throughout Australia and New Zealand. The company operates in an array of consumer goods sectors including electronics, BBQ’s and outdoor products, kitchen…