16 Aug 2018

Skellerup makes record profit

11:24 am on 16 August 2018

Rubber-goods maker Skellerup has made a record profit driven by strong sales growth in New Zealand and other parts of the world.

 Gumboots - Red bands

Gumboots - Red bands. Photo: RNZ/Susan Murray

The company's net profit rose 23 percent to $27.3 million in the 12 months to June, with revenue up 14 percent to $240.4m.

The industrial division's underlying profit rose 21 percent to nearly $20.8m, building on growth over the past four years.

The agri division also delivered record profit growth of 15 percent to $22.8m, helped by buoyant domestic and export markets.

Chief executive David Mair said international markets provided the best opportunities for further growth, contributing more than half of the company's total revenue.

"Our reputation and ability to consistently develop and deliver innovative and high-quality dairy consumables and animal hygiene products is critical to our success," he said.

"We have continued to develop and grow our footwear range, including our firefighting boots which are not only worn in New Zealand and Australia but now also by a large proportion of the UK fire brigades."

They raised its full-year dividend payout by 16 percent to 11 cents a share.

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