28 Mar 2013

Scott Technology reports rise in half year profit

1:59 pm on 28 March 2013

Scott Technology has reported a rise in its half-year profit despite tough trading conditions.

The Dunedin-based company made $2.2 million after tax for the six months to the end of February, an increase of nearly 6% compared with the same period a year earlier.

However revenue fell by about $2.5 million to $26.8 million.

The company says the competitive environment for most of its products and the high New Zealand dollar has meant maintaining its target margins has been challenging.

Scott Technology says it's continuing to invest heavily in research and development of its products across all its market sectors.

The listed company spent more than $2.8 million on research and development in the period.