"Demand's continued to remain strong": Skellerup upgrades annual profit outlook
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Another positive sign for the economy.
Kiwi manufacturer Skellerup —who makes everything from gumboots to industrial rubber products— has lifted its annual profit forecast to as much as $65 million.
They credit stronger than expected US demand for the increase.
CEO Graham Leaming told Mike Hosking they thought tariffs and the conflict in the Middle East might drive inflation and dampen demand in the US market, but that hasn’t materialised.
He says demand remains strong, and the things they manufacture and sell are often pretty critical to customers, so they were able to adjust prices in response to tariffs and increases to the cost of raw materials.
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