Skellerup reports strong sales, profits in full year

ERJ staff report (DS)

Auckland, New Zealand -- Skellerup Holdings has announced a record audited Net Profit after Tax (NPAT) of NZ$20.2 million (euro 11.6 million) for the year ended 30 June 2011 - an increase of NZ$8.2 million, or 68.9 percent, on the previous year. Adjusting last year's result for one-off costs incurred of NZ$2.5m, the increase is 39.7 percent. Continuing Operations Revenue was up 7.1 percent to $193.6 million

The company said Industrial Division sales for the year were 7.6 percent ahead of the previous year, reflecting good growth in

demand for most industrial products, but particularly the sale of industrial vacuum pumps into the

North American oil and natural gas exploration markets. Industrial division sales were NZ$124.4 million (euro 71 million), or 64 percent of the total.

Agri Division sales for the year were 4.9 percent ahead of the previous year, as a result of on-going demand

from the dairy industry for our range of consumable products. The Quatro and Red Band gumboot

continues to be well received in the New Zealand market. Demand for items of a capital nature, such

as dairy vacuum pumps, has improved reflecting a more positive outlook for dairying as a

consequence of improved milk solid prices over the past year. Agri division sales were NZ$69 million, or 36 percent of the total.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

results announcement from Skellerup