24 Feb 2012

Skellerup aided by mining boom

7:01 am on 24 February 2012

The mining boom in Australia helped Skellerup to post a record half year profit.

The plastics and industrial couplings manufacturer made $11.5 million in the final six months of 2011, 17% more than in 2010.

Revenue rose 7% to $103 million.

Chief executive David Mair says its agri and industrial divisions performed well, despite worsening market conditions.

He says dairy has been positive and it's also gaining market share in key markets like the US, and has invested in more equipment in Christchurch.

Mr Mair says as that comes on stream it's having a positive effect on the company's agri division.

He says despite worsening market conditions, particularly in Europe and Australia, its specialty products are attracting a lot of orders.

Mr Mair says a product called flexiflo which is used in iron ore mines to help prevent shutes from blocking up has done very well riding on the back of the commodity boom in Australia.