Scott Technology boosts FY profit 22 percent as mining equipment sales climb, shares rise to 7-year high

Thu, 11 Oct 2012

By Paul McBeth Oct. 11 (BusinessDesk) - Scott Technology, the Dunedin-based industrial automation firm, lifted annual profit 22 percent as sales of its mining equipment gathered pace, pushing its shares to a seven-year high. Net profit advanced to $6.1 million, or 16.7 cents per share, in the 12 months ended Aug. 31, from $5 million, or 16.6 cents per share, a year earlier, the company said in a statement. Sales rose 19 percent to $63.8 million, with mining equipment making up about 53 percent of its revenue. The shares climbed 1.8 percent...

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