Brief: Scott Technology Says Resolved Not To Pay Interim Dividend For Year Ended 31 Aug 2020

Scott Technology

07/05/2020 23:05

May 8 (Reuters) - Scott Technology Ltd  SCT.NZ :
    * SCOTT TECHNOLOGY LTD -  LONGER TERM OUTLOOK FOR COMPANY
REMAINS
POSITIVE
    * SCOTT TECHNOLOGY LTD -  COVID-19 WILL HAVE A MATERIAL
IMPACT ON
FY20 RESULTS
    * SCOTT TECHNOLOGY LTD- RESOLVED NOT TO PAY AN INTERIM
DIVIDEND
FOR YEAR ENDED 31 AUGUST 2020
    * SCOTT TECHNOLOGY -  TRANSITIONING TO STREAMLINED,
REGIONALLY
FOCUSED BUSINESS MODEL WITH 4 REGIONS
    * SCOTT TECHNOLOGY -  BUSINESS & WORKFORCE TO BE RIGHT-SIZED
FOR
NEW STRATEGY & OPERATING ENVIRONMENT
    * SCOTT TECHNOLOGY- NEW PROJECTS WHICH WERE UNDERWAY PRIOR
TO
COVID-19 ARE RECOMMENCING, ALTHOUGH THERE MAY BE SOME DEFERRAL
OF TIMING
    * SCOTT TECHNOLOGY -  NEW STRATEGY TO INCLUDE CONSOLIDATION
OR
CLOSURE OF NUMBER OF FACILITIES INCLUDING CLOSURE OF KÜRNBACH
FACILITY IN GERMANY
    * SCOTT TECHNOLOGY -  RESTRUCTURING TO INCLUDE PROPOSED
CONSOLIDATION OF MELBOURNE MANUFACTURING INTO SYDNEY PLANT,
CLOSURE OF BRISBANE OFFICE
    * SCOTT TECHNOLOGY- HY REVENUE NZ$101.8M, HY NET LOSS AFTER
TAX
NZ$13.7 MILLION
    * SCOTT TECHNOLOGY- WILL ALSO COMMENCE A SALES PROCESS FOR
NICHE
HIGH TEMPERATURE SUPER CONDUCTING BUSINESS IN WELLINGTON

Source text for Eikon:  ID:nNZSyxfa 
Further company coverage:  SCT.NZ 

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