Skellerup delivers record first-half profit and affirms guidance

CEO David Mair said his job is to deliver profitable growth. (Image: Skellerup)

Thu, 16 Feb 2023

Rubber products company Skellerup delivered record first-half operating profit, as promised, and affirmed its guidance for the full-year result.However, the bottom line was marginally lower than the previous first half, largely reflecting finance costs more than doubling to $2 million from $0.9m previously.Earnings before interest and tax (Ebit) were up 3% to $33.5m for the six months ended December while net profit fell 1% to $23m.Revenue was up 10% to $165.5m while operating cash flow was up 3% to $10.2m.But the big miss was the agri division...

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