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Skellerup Holdings Limited (NZX: SKL) Revenue and Operating Gains Drive Record Skellerup NPAT

Thursday 19th August 2021

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Skellerup today announced record audited net profit after tax of $40.2 million for the year ended 30 June 2021, a 38% increase over the previous record result.

Skellerup CEO, David Mair said the overall growth in earnings was the outcome of continuing to focus on working closely with key customers to provide engineered products used in a range of critical applications people interface with every day. “Skellerup’s products are critical to the supply of safe potable (drinkable) water; the production of milk and milk products; the performance of appliances in homes and workplaces; health and hygiene in hospitals, shops and homes; the safety and comfort of sporting and leisure equipment; and the integrity of roofing systems on homes and workplaces.”

Mair highlighted that Skellerup was focused on delivering growing and sustainable financial returns. “We invest in our people to develop better and more efficient ways of designing and manufacturing products. We design products and review processes to reduce waste and increase the efficiency of materials and energy used. We are proud to support the communities where we operate. The ongoing Covid-19 pandemic has created significant challenges and changes for our teams around the world. They have embraced these opportunities and delivered improved financial returns, better environmental outcomes including reduced water consumption and packaging waste and more efficient energy usage while keeping our workplaces safe.”

Coutts advised that the final dividend would increase from 7.5 to 10.5 cents per share (50% imputed as in the pcp) to be paid to shareholders on 15 October 2021 with record date of 01 October 2021. This will bring the total dividend pay-out for the financial year ended 30 June 2021 to 17.0 cents per share up 31% on pcp.

Chair Liz Coutts noted that NPAT was a key financial measure, but equally operating cash flow was a critical performance measure to ensure the firm had the capacity to continue to fund growth.

“In FY21, we achieved a record operating cash flow of $58.8 million – up 22 per cent on the prior record achieved in FY20. This enabled us to fund our capital expenditure requirements, reduce debt and substantially lift our final dividend. We have a robust Balance Sheet with very low debt providing the platform and opportunity for continued investment in growth.”

Coutts advised that the final dividend would increase from 7.5 to 10.5 cents per share (50% imputed as in the pcp) to be paid to shareholders on 15 October 2021 with record date of 01 October 2021. This will bring the total dividend pay-out for the financial year ended 30 June 2021 to 17.0 cents per share up 31% on pcp.

“We are very pleased to reward shareholders in Skellerup. Over the past 10 years the pay-out has almost trebled. This demonstrates Skellerup’s strong cash flow and the Board’s practice of paying out a consistently high proportion of earnings,” Coutts said.

Coutts said the Group has started strongly in FY22 and she looked forward to updating shareholders further at the Annual Meeting on 27 October 2021.

Please see the links below for details

FY21 Media Release

FY21 Annual Report

FY21 NZX Results Announcement

FY21 Distribution Notice

FY21 Results Presentation

FY21 Results Webinar

Source: Skellerup Holdings Limited



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