Due to high meat prices and a lack of skilled labour, automation and robotics provider, Scott Technology, has reported a boost in demand.
The listed company based in Dunedin has reported increases in revenue and earnings for the first half of the 2022 financial year, ended 28 February. Revenue was up 13 percent to $118.4 million and normalised earnings before interest and tax grew by 19 percent to $11.7m, delivering a net profit of $4.7m.
The company said forward work remains robust with system design and build contracts in Europe, United States, China, Australia, and New Zealand.
The large lamb primal automation project at the Alliance Lorneville plant, the largest lamb processing site in the world, has received final sign-off and is now in production. The system lifts processing yields, improves safety and allows Alliance to refocus an already short labour supply on other areas of production.
Scott’s share price has risen by one-third during the past year without setting any records.