Specialist plastics and gumboot maker Skellerup's after-tax profit for the the year ending June has jumped 22% to $24.7 million.
Excluding a one-off insurance payment of $400,000 the company's profit was up 20%.
Revenue grew more than 7% over the year to just over $207 million.
Chief executive David Mair says the company's industrial division experienced particularly strong growth, with earnings up 14%.
Mr Mair says this year's results - a record annual profit - are due to new product developments and supply chain improvements.
Skellerup will pay an increased final dividend of 5c a share.