Skellerup Holdings has lifted its annual profit by two-thirds due to stronger demand for its agricultural and industrial products.
The plastics and industrial couplings company made $20.2 million in the year to June, an increase of 68% on the previous year.
Excluding one-off costs, underlying profit rose 40%.
Revenue rose 7% to $194 million due to stronger demand for industrial polymers and vacuum pumps for the energy exploration market in the United States as well as dairy farmers.
The company cut debt by two-thirds to $9.1 million.
Looking ahead, Skellerup expects to make about $22 - $23 million.
