Scott Tech profit halves due to review, restructure costs

Interim CEO Aaron Vanwalleghem says the company had measured growth in a challenging macroeconomic environment. (Image: Scott Tech)

Ben Moore

Thu, 17 Oct 2024

Scott Technology’s net profit dropped by half for the 12 months to Aug 31, largely due to a one-off $3.8 million in one-off costs related to restructuring and a strategic review. The industrial automation company posted a net profit of $7.7m, down from $15.4m the year prior.Revenue rose slightly, up 3% to $276m, while earnings before interest, taxes, depreciation and amortisation were flat at $30.4m, against $30.2m.Cash on hand fell from a $12.4m surplus to a deficit of $7.3m.The board approved a 3 cent per share dividend for th...

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