In an announcement to the NZX this week, the company said revenue of $122m was down 14% from $141 in the prior comparable period (pcp).
Operating ebitda of $12.2m was down 27% from $16.6m, while operating cash flow of $14.5m was up from $7.7m.
Net debt reduced 35% to $13.2m while directors declared a dividend of 3c per share unimputed, down from 5c per share in the pcp.
The company said the revenue decline was driven by a challenging economic landscape and subdued order intake throughout FY24.
Despite that environment, forward work remained robust at $165m, supported by a targeted approach to high-margin opportunities and securing recent wins that provided momentum for the second half.
The recent announcements on tariffs were expected to have a limited direct impact on Scott for FY25.
However, the more significant impact was the increasing uncertainty it would create and impact on businesses’ willingness to invest in capital equipment.
While certain segments might experience headwinds, there was potential opportunities, particularly where the company’s European and Asian competitors faced higher tariff rates than exports from New Zealand or Australia to the US.
– APL
