Scott Technology more than doubles annual profit on Robotworx acquisition, weaker kiwi

Thu, 08 Oct 2015

By Suze Metherell Oct. 8 (BusinessDesk) - Scott Technology, the industrial automation manufacturer, more than doubled annual profit as revenue was boosted by a weaker kiwi dollar and gains from its RobotWorx acquisition. Profit rose to $6.1 million in the 12 months ended Aug. 31 from $3 million a year earlier, the Dunedin-based firm said in a statement. Sales rose 20 percent to $72.3 million. Profit was boosted by a strong second half which included a more favourable exchange rate in its key export markets and one-off transactions, inclu...

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