SKL
28/10/2015 13:51
FORECAST
PRICE SENSITIVE
REL: 1351 HRS Skellerup Holdings Limited
FORECAST: SKL: SKL: Skellerup expects strong increase in profit
28 October 2015
Skellerup expects strong increase in profit
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) 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.
For further information please contact:
David Mair
Chief Executive Officer
021 708 021
Graham Leaming
Chief Financial Officer
021 271 9206
End CA:00272427 For:SKL Type:FORECAST Time:2015-10-28 13:51:55
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