Skellerup makes products for water supplies and wastewater, foam for boats and roofing products.
Photo:
Rubber goods manufacturer Skellerup has posted a record first half profit on the back of higher sales across the business.
Key numbers for the six months ended December compared with a year ago:
- Net profit $28.9m vs $24.2m
- Revenue $183.5m vs $165.3m
- Pre-tax earnings $40.6m vs $35m
- Forecast profit range $57-62m
- Interim dividend 10 cents per share vs 9 cps
Skellerup chief executive Graham Leaming called its record half year result an “excellent” start to the year, with growth in all its key divisions.
“The growth in revenue and earnings was broad-based with the most notable contributions coming from the key dairy, potable and wastewater applications.”
He said the company had met increased demand, brought new products to market and coped with the imposition of tariffs.
The industrial division, which makes products for water supplies and wastewater, foam for boats and roofing products, had a strong lift in sales to Australia and the US, as well as improved margins.
The agriculture division, which provides rubber components for dairying as well as the well known gumboots, also sold well overseas.
The company gets about 80 percent of revenue from overseas, and close to 40 percent from US sales, but revamped sources of supply and manufacture to reduce the impact of the US tariffs.
Leaming said despite continuing global uncertainty the company had a strong pipeline of work, and was expecting a full year profit between $57-$62m, compared to last year’s $54.5m.
Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
