Skellerup Holdings Limited (NZX: SKL) Upgrades FY21 Earnings Guidance

Monday 19th April 2021

Stronger than expected Q3 sales and earnings has caused Skellerup to increase its forecast full year FY21 net profit after tax (NPAT) to a range of $37 to $39 million. This compares to FY20 NPAT of $29.1 million.

CEO David Mair said all businesses have continued to perform well.

“Sales of potable water products in the USA and demand for our flashing and plumbing products in all markets were robust in Q3. We expect continued solid demand in Q4. Sales of essential dairy consumable products were also better than expected during what is a normal seasonal low period. We are now moving into the peak part of the NZ season where dairy farmers undertake maintenance so expect a strong Q4 result. Demand for our high-performance marine foam products continues to grow in all markets. Our order book remains strong, particularly in the USA.

The global shortage of containers and shipping space along with international port congestion is impacting our business. We are focused on delivering the essential products we supply throughout the world. Our manufacturing teams are focused on securing raw materials and running our operations as efficiently as possible to meet the requirements of customers.”

In February, Skellerup reported a record first half NPAT of $19.5 million. Skellerup will report its results for the full FY21 year on 19 August 2021.

Please see the link below for details:

Market Update 19 April 2021

Source: Skellerup Holdings Limited

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