BREAKING NEWS
Daniel Vettori out for 9, NZ 167-7 ... Read more
Close

17pc profit boost for Scott Technology

Last updated 05:00 12/10/2012

Relevant offers

Industries

Cat food linked to slavery ring Auckland port: Work together, says mayor Len Brown NZ fishery catch may be three times more than reported Mainzeal liquidator BDO plans court action Kiwi beer price to rise by 3 per cent Media agency owner Glenda Wynyard guilty of fraud Hallenstein profit jumps nearly 40pc, sales rebound Another office building planned for Wynyard Quarter Liquidated Tokoroa contractor's money woes continue IT guy helps Kiwi tech companies go global

Christchurch manufacturer of automated production systems Scott Technology has posted a 17 per cent rise in profit to $6.1 million.

The directors declared a final dividend of 5.5 cents a share, making the total dividend for the year to August 31 8c a share, a 14 per cent increase on the previous year.

The $6.1m profit after tax was earned from revenue of $63.8m, 19 per cent higher than the previous year's $53.6m. It compares with $5.2m profit after tax the year before. Earnings a share were 16.7c, compared to 16.6c the year before.

The directors said the company, headquartered at Bromley in east Christchurch, had kept its focus on developing new technologies and related business opportunities. Some 86 per cent of sales came from overseas customers.

To exploit its research and development the company was focusing on converting its technology into standard products and technology offerings. That would reduce its reliance on one-off automation systems and had boosted revenues and profits.

It has continued to develop its meat processing automation technology and had recently announced projects for two large Australian meat processors and "we expect sales for this market will continue to grow".

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content