The Directors of Scott Technology Limited are pleased to announce that they have completed satisfactory due diligence for the acquisition of the business of Auckland based manufacturer, Rocklabs Limited. The remaining outstanding conditions of sale are expected to be satisfied during the month of June.

The attached 2008 half year report is now released. Click to download. (3.66M)

Scott Technology Limited are pleased to announce it has secured key contracts for the
supply of equipment into the international market. These contracts have been gained
despite the difficult trading environment that was indicated at both the Annual Meeting in
December and in the interim announcement in April.

The Directors of Scott Technology Limited advise that the unaudited result for the six months ended 29 February 2008 was a loss of $836,000, compared to an unaudited profit for the six months ended 28 February 2007 of $1.2 million. Group sales for the six months were $8.3 million, compared to group sales of $14.3 million for the six months ended 28 February 2007.

It is my pleasure on behalf of the Board of Directors to welcome shareholders to the Annual Meeting of Scott Technology Ltd.  This Annual Meeting is the eleventh since the Company was relisted on the New Zealand Stock Exchange in 1997, when the Scott Technology shares were bonus issued at no cost to the shareholders of Donaghys Ltd

During the year the company has appointed two new Directors. Mr Christopher Staynes brings appliance and engineering industry experience to the Board and Mr Stuart McLauchlan brings financial and corporate skills to the Board.

The Directors of Scott Technology Limited are pleased to advise that the company earned an audited operating surplus before tax of $4,655,000 on operating revenue of $29.5 million for the year ended 31 August 2007. This compares to the previous years surplus of $392,000 achieved on operating revenue of $27.5 million.