Scoop has an Ethical Paywall
Scott Technology first-half profit rises 40%
Scott Technology first-half profit rises 40% as acquisitions drive revenue growth
By Jonathan Underhill
April 14 (BusinessDesk) - Scott Technology, the industrial automation firm, posted a 40 percent gain in first-half profit as sales from recent acquisitions helped drive revenue growth.
Profit rose to $1.1 million in the six months ended Feb. 28, from $800,000 a year earlier, the Dunedin-based company said in a statement. Sales rose 16 percent to $29.3 million.
The first-half results include a full six-month contribution from RobotWorx, the Ohio-based industrial robot integrator it acquired in 2014 for an initial US$5.4 million cash and shares. Since then it has acquired Australian business Machinery Automation and Robotics for A$13 million, using bank debt for both transactions while flagging new capital raising. Today the company said it was in the process of hiring advisers to raise capital to repay debt and continue its growth path, with further details to be released in coming months.
New Zealand Association of Scientists: Budget 2025 Robs Researchers To Pay For Regulation
Advertising Standards Authority: ASA 2024 Annual Report - Strengthening Consumer Protections With Effective Ad Self-Regulation
IRANZ: Budget Reaction – Time To Back Science With Long-Term Investment
Better Taxes for a Better Future: Budget Of Austerity Piles On Least Well-Off, Misreads Public Mood
Nicola Gaston, The Conversation: NZ Budget 2025 - Science Investment Must Increase As A Proportion Of GDP For NZ To Innovate And Compete
Maritime Union of New Zealand: Maritime Union Condemns Threatened Job Losses On Aratere Ferry
