Skellerup expects strong increase in profits

28 October 2015

Skellerup expects strong increase in profits

Speaking ahead of today’s Annual Shareholders Meeting, Skellerup Chairman Sir Selwyn Cushing said based upon the strong trading performance in the latter part of FY15 and in the first quarter of FY16 the company is forecasting net profit after tax (NPAT) of between $24 million and $26 million for FY16, up from $21.9 million in FY15.

Skellerup manufactures products globally for customers in more than 30 countries, and expects to continue to lift revenues with particular emphasis on the US market where Skellerup has invested significantly during recent years.

Skellerup CEO David Mair said, “We have put a lot of effort into prioritising the growth opportunities available to us, and made significant investment in the people and structures we need to make the most of those opportunities. That work is now starting to pay off.”

At today’s meeting, Sir Selwyn will also highlight progress on Skellerup’s new Dairy Rubberware Development and Manufacturing facility at Wigram Business Park in Christchurch, which is on track to begin operating during 2016.

The Wigram facility will replace Skellerup’s Woolston factory, which has been the cornerstone of the company’s Agri Division for some 75 years.

The new facility not only confirms Skellerup’s commitment to the dairy industry, it also reaffirms Skellerup’s commitment to Canterbury. Skellerup Wigram will provide a world-class product development and production facility that will keep Skellerup at the forefront of dairying best practice.

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