Strong result for Scott Tech

Last updated 15:04 25/03/2011

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Dunedin-based manufacturer Scott Technology has boosted net profit to $1.6 million for the six months to February 28, up from $973,000 for the same period last year.

Revenue rose 7 per cent to $21.8m.

The company described the result as "strong'' amid robust demand for its factory automation and meat processing products.

"The group's forward work is at record levels as we head into the second half of the financial year,'' it said.

"With increasing pressure on a broad range of costs our focus is firmly on successfully completing this work with maximum efficiency.''

An interim dividend of 2c a share was announced, payable on April 8, an increase of 60 per cent on the previous year.

The company's Christchurch manufacturing facilities had escaped serious damage in the February earthquake, it said, and operations were back to almost full capacity within weeks.

Scott Technology shares were unchanged today at $1.42, valuing the company at $44.9m.

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