Skellerup has made another record profit driven by strong international sales growth.
Photo: Supplied
The rubber products company's net profit rose 15 percent to $13.4 million in the six months to December, with revenue up 3 percent to $120.2m.
The industrial division outperformed the agri business, which was hit by uncertainty in the New Zealand dairy sector.
Skellerup chief executive David Mair said the industrial division underpinned the result, with a 16 percent increase in sales.
"We continue to grow our business with key original equipment manufacturers (OEMs) in international markets," he said.
Mr Mair said operational gains in New Zealand and China delivered an improvement in agri division, which helped to offset the negative affect of lower milk prices.
He said the company exported about 80 percent of its products, with strong international demand for high quality rubber products expected to continue.
Skellerup was expected to make a full year net profit in the range of $29m and $31m, which compared with last year's $27.3m.
It will play an interim dividend of 5.5 cents, which compared with four cents last year.
