Skellerup Holdings reports record $50.9m net profit

Skellerup Holdings has announced a record net profit after tax of $50.9 million for the year ending June 30, 2023, representing a seven percent increase from the previous year.

The company's revenue increased by five percent to $333.5 million, while earnings before interest and tax (EBIT) rose by seven percent to $71.7 million.

Skellerup's Industrial Division saw a 10 percent increase in EBIT, driven by sales growth in wastewater, high-performance foam, and roofing applications.

The Agri Division's EBIT increased by one percent, with footwear sales being the main contributor.

The company also highlighted its continued investment in future growth, including increasing its ownership of Sim Lim and investing in internal engineering capability.

Skellerup's strong financial position allowed for a final dividend of 14 cents per share, bringing the total FY23 dividend to 22 cents per share, a seven percent increase from the previous year.