24 Aug 2012

Skellerup posts record annual profit

9:30 am on 24 August 2012

Specialist plastics and gumboot maker Skellerup's after-tax profit for the the year ending June has jumped 22% to $24.7 million.

Excluding a one-off insurance payment of $400,000 the company's profit was up 20%.

Revenue grew more than 7% over the year to just over $207 million.

Chief executive David Mair says the company's industrial division experienced particularly strong growth, with earnings up 14%.

Mr Mair says this year's results - a record annual profit - are due to new product developments and supply chain improvements.

Skellerup will pay an increased final dividend of 5c a share.