Restored revenue and earnings from the agricultural division contributed to the gains.
Skellerup has reported an unaudited net profit after tax of $24.2 million for the six months to December 31, a record interim result for the company.
Revenue was $165.3m, up 5%, earnings before interest and tax were $35m, up 11% and the net profit was up 12% on the previous corresponding period.
It said restored revenue and earnings from the agricultural division for its international sales of rubberware contributed strongly to the result.
The agri division made earnings before interest and tax of $15.5m, up 31% on the previous corresponding period.
“The increase in production to meet demand was delivered efficiently, aided by investment in process improvements and equipment, delivering improved gross margins.
“Footwear sales were softer in the first half, particularly in New Zealand where economic conditions impacted on consumer spend.
“Indirect costs were up due to investing in development capability to ensure future growth.”
You can now read the most important #news on #eDairyNews #Whatsapp channels!!!
🇺🇸 eDairy News INGLÊS: https://whatsapp.com/channel/0029VaKsjzGDTkJyIN6hcP1K
