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HY TO 28/02/2002 $674,000 ($11,000) +6027.3% DIV 3CPS

12:00AM, 4 Apr 2002 | HLFYR

CONSOLIDATED OPERATING STATEMENT FOR THE HALF YEAR ENDED 28/02/2002

Unaudited (NZ$`000)
                                                     Current        Previous
                                                      Period   Corresponding
                                                                      Period
OPERATING REVENUE
 Sales revenue                                       10,057           8,822
 Other revenue                                            -               -
Total Operating Revenue                              10,057           8,822
OPERATING SURPLUS (DEFICIT)
 BEFORE UNUSUAL ITEMS AND TAX                         1,013             200
Unusual items
 for separate disclosure                                  -            (168)
OPERATING SURPLUS (DEFICIT)
 BEFORE TAX                                           1,013              32
Less tax on operating surplus                           339              21
Operating surplus (deficit)
 after tax but before minority
interest                                                674              11
Less minority interests                                   -               -
Equity earnings                                           -               -
OPERATING SURPLUS (DEFICIT)
 AFTER TAX ATTRIBUTABLE
 TO MEMBERS OF LISTED ISSUER                            674              11
Extraordinary items after tax                             -               -
Less minority interests                                   -               -
Extraordinary items after tax
 attributable to members of the
 Listed Issuer                                            -               -
TOTAL OPERATING SURPLUS
 (DEFICIT) AND
 EXTRAORDINARY ITEMS
 AFTER TAX                                              674              11
Operating Surplus (Deficit)
 and Extraordinary Items after
 Tax attributable to Minority
 Interest                                                 -               -
Operating Surplus (Deficit)
 and  Extraordinary  Items after
 Tax attributable  to Members
 of the Listed Issuer                                   674              11
EPS                                                     3.4             0.1
SHAREHOLDERS' EQUITY
  ATTRIBUTABLE TO MEMBERS
 OF THE HOLDING COMPANY                              13,307          11,622

The Directors of Scott Technology Limited advise that the unaudited result
for the six months ended 28/02/2002 was a profit of $674,000.  This compares
to an unaudited profit for the six months ended 28/02/2001 of $11,000.  Scott
Technology Limited group sales for the six months were $10,057,000, an
increase of 14% compared to the $8,822,000 in the previous half year.

Total shareholders' equity as at 28/02/2002 was $12.3m, up from $11.6m at
28/02/2001.  The net working capital of $4.5m at 28/12/2002, an improvement
on the $3.5m at 28/02/2001, emphasises the strength of the company's balance
sheet and reflects a build-up of cash and debtors as several major contracts
progress. This recovery from the previous year's position is also evident in
the positive operating cash flows of $2.2m, which is a significant
improvement on the previous half year cash outflow of $1.0m.

The Directors have declared an interim dividend of 3.0 cents per share, up
from the 1.5cps for the previous half year.  This dividend is an indication
of the confidence the Directors have in the company's ability to return to
more normal operating profits.   The dividend will be payable on 01/05/2002
and will be fully imputed, with a supplementary dividend being applied to
overseas shareholders.  Record date is 26/04/2002.

Over the past several months, the company has announced the securing of
several major contracts, primarily in the North American market, and the
Directors are pleased to report that the level of enquiry remains high.

After a challenging 2001 year, the company has implemented the changes
reported early last year.  The Directors are confident that the current
organisation structure, with a highly experienced and committed management
team, will provide the required leadership to take the company through this
period of growth.

The company has strengthened its marketing presence with additional staff in
the Dallas office, which has been the cornerstone of our North American
market for over 12 years.  The

company's European representation continues through associations with UK and
other European companies.  Expanded market presence has been established in
China, with a representative based in Shanghai, and through our new Scott
office in Australia, acquired with the business of CBS Engineering.  The
level of enquiry and forward work reflects the growing presence of our
marketing people in these markets.

In February 2002 the company announced the acquisition by Scott Automation
Ltd of the business of CBS Engineering Ltd, an old established Auckland based
company operating in the automation and materials handling market, in both
New Zealand and Australia.  This acquisition provides further growth
opportunities for Scott Automation in the important markets of Auckland and
Australia.

Scott Technology Ltd, which focuses on the company's appliance market, is
operating at substantially increased capacity and the challenge for this
division in the foreseeable future is to further improve its business
operations and to introduce new innovative ways to expand capacity.

Scott Technology, which is financially strong, with no term debt and having a
management team with a passion to succeed, is well aware of the need to
continue to build on its strengths and increase its responsiveness as a
technically capable innovator.  With this in mind the company continues to
explore opportunities, including development projects currently underway and
through internal research and development, to capitalise on the strengths of
the group.

The Directors are confident that the improvements achieved, particularly in
the latter part of this half year, will be able to be carried through the
remainder of the financial year.