12 Oct 2012

Scott Technology shows strong financial performance

8:55 pm on 12 October 2012

Scott Technology has turned out a strong financial performance off the back of its investment across a range of sectors.

Net profit after tax rose 15% to $6.1 million for the year to August, compared with $5.2 million last year.

Scott says its research and development activities have driven its performance.

The company exports about 86% of its sales and it supplies product to whiteware good manufacturers, the mining and the meat processing sectors, as well as other industries.

Chief executive Chris Hopkins said the mining sector has been strong and the benefits of the company's diversification strategy adopted in the early 2000s is starting to come through.

Mr Hopkins said he's reasonably confident the company has another good year ahead of it as more of the company's research and development activities will translate into sales this year.

"We've got some development activities which will come to fruition," he says.

"We've got a lot of research and development activities - primarily in the meat processing sector. We have been working on some technology in the appliance sector as well".