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FLLYR TO 31/08/99 $2.892M ($2.713M) DIV 6.5CPS

12:00AM, 27 Oct 1999 | FLLYR

Scott Technology has announced an operating profit before tax of $4.37m and a
net surplus after tax of $2.89m. Total sales revenue for the period was
$27.43m, of which export sales were $26.9m. The chairman, Graeme Marsh,
reported that:
Sales increase 13.6% reflecting expansion of capacity in Dunedin
Operating surplus before tax increased 7.2%
Total dividend for the year increased by 10% to $10.64m
The company continues to seek growth and expansion opportunities
Base established in London to help increase penetration into Europe
The balance sheet continues to strengthen with the net working capital
improving from $2.1m to $2.6m. The operating cash outflow for the year reflecI
advance [payments received in the previous year and a buildup of major contra8
work in progress which was deferred in the last annual report.
During the year, the company announced the sale of the Gearbox Division .
Christchurch Design Engineering facilities were again expanded and this now
completes the Christchurch site development. No further major capital project=
are planned for the current trading year.
The company's engineering facilities are currently working at full capacity.
The company has recently completed an exploratory marketing mission to China.
It is the boards view that considerable market opportunities exist in Asia an9
the company is currently investing resources into this market.
A dividend of 6.5cps share has been declared payable in December. The dividen9
will be fully imputed.
The directors are confident that Scott Technology will continue to develop it@
technology to meet the needs of its customers leading to enhanced shareholder
value in the future, and that the year ahead will be another successful one.