Skellerup reports higher profits on level sales for 12 months

ERJ staff report (DS)

Wellington New Zealand -- For the 12 months ended 30 June 2010, Skellerup Industries reported sales of NZ$ 180.7 million (Euro 100.3 million), unchanged from the figure of NZ180.8 million a year previously. Net profit increased to NZ$12 million, from NZ$9 million a year previously. The company said it reduced debt during the year to NZ$26.6 million from NZ$64.7 million.

A corporate statement said this result was pleasing and resulted from a significant improvement in trading in the second half of the year, notably from the company's industrial division.

Looking forward, the company said forecasts are difficult to make, but expressed cautious optimism that markets are recoving around the world. New Zealand-based Skellerup makes rubber goods for the industrial and dairy markets.

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Press release from Skellerup