CHRISTCHURCH, New Zealand (Feb. 16, 2011)—Skellerup Holdings Ltd. posted net profits of $7.38 million for the six months ended Dec. 31, 2010, compared with $2.48 million in earnings for the same period a year earlier.
Marked improvement in trading conditions as well as benefits arising form the firm's focus on product development helped the company show better results, according to Selwyn Cushing, chairman of the maker of dairy, footwear and industrial rubber products.
For the six-month period, the New Zealand manufacturer recorded a 2.6 decline sales to $72.5 million. However, revenue in its Industrial Division jumped 15.6 percent, the company said.