Scott Technology FY profit falls 16 percent as strong kiwi erodes margins; pays special centenary dividend

Thu, 10 Oct 2013

By Paul McBeth Oct. 10 (BusinessDesk) - Scott Technology, the industrial automation firm, reported a 16 percent fall in annual profit as the strong currency eroded margins for the exporter, while declaring a special dividend marking its 100th year in operation. Net profit fell to $5.14 million, or 13.6 cents per share, in the 12 months ended Aug. 31 from $6.11 million, or 16.7 cents, a year earlier, the Dunedin-based company said in a statement. Sales fell 5.9 percent to $60 million, as a strong New Zealand dollar ate into export returns and...

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