11 Oct 2013

Scott Technology profit falls

7:55 am on 11 October 2013

Scott Technology's annual net profit fell 14% as it battled both the high New Zealand dollar and a downturn in the mining industry.

Net profit for the 12 months to the end of August fell to $5.1 million compared with $6.1 million in the previous year. In the year, 87% of sales were outside New Zealand.

Chief executive Chris Hopkins says the result was a solid one, given the difficult circumstances.