Sharechat Logo

Scott Technology faces 'constrained market' as profit jumps

By Phil Boeyen, ShareChat Business News Editor

Wednesday 18th October 2000

Text too small?
Scott Technology is warning of tougher times ahead on the back of an improved after-tax profit of $3.57 million. The result for the year to the end of August is 24% higher than last year's $2.89 million.

The company, which specialises in designing and making large-scale automation systems for major domestic appliance companies, has declared a 6.5 cents per share final dividend.

Sales revenue rose to $30.7 million from $27.4 million last year, which the company says reflects expanded capacity.

SCT's directors say they are expecting a challenging year ahead as the levelling of economic activity in many of its international markets indicates that renewal and replacement in the world-wide appliance industry will be constrained over the next several months.

However the company adds that it is financially strong and well positioned to benefit from an upturn in economic activity in global appliance markets. During the year it entered into its first strategic alliance with a European company.

SCT shares closed up 10 cents Wednesday at $2.40.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Scott Technology lifts 1H profit 5.6 percent even as strong kiwi dollar eats into revenue
Scott Technology boosts FY profit 22%; shares rise to 7-year high
Scott Technology's first-half profit jumps 33%
Scott Technology seeks $9.5m in rights issue
Daily ShareChat: Scott Technology
Scott Technologies unveils best result in seven years
Scott Technology to buy supplier's assets
Scott Technologies says growing customer demand helped push first half into profit

IRG See IRG research reports