NZ's Scott Technology at 2-month high on positive FY results, outlook

Scott Technology

18/10/2023 02:23

** Shares of Scott Technology Ltd  SCT.NZ  rise as much as
3.6% to NZ$3.47, their highest since Aug. 18
    ** Automation and robotics company reports FY EBITDA of
NZ$30.4 mln ($17.91 mln), up 27%
    ** Reports FY revenue of NZ$267.5 mln, up 21%; NPAT up 21%
to NZ$15.4 mln
    ** Announces dividend of 4 NZ cents per share
    ** Says co receiving a high level of enquiry, with order
book showing a high level of forward work, which bodes well for
the coming year
    ** Business' sales pipeline ahead of expectation; NZ$195 mln
in forward work comprising many materials handling and logistics
(MHL) projects
    ** Stock posts biggest intraday gain since October 10
    ** Stock up 33.5% YTD as of last close


($1 = 1.6975 New Zealand dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.GovindRao@thomsonreuters.com;))