Skellerup reported record FY26 profit as global dairy demand surged
Skellerup Holdings, a New Zealand-based manufacturer of industrial and agricultural polymer products, recorded its tenth consecutive year of earnings growth in FY26. Normalised net profit after tax increased by 18% from the previous year to NZ$54.2m, while normalised earnings before interest and tax rose 14% to NZ$89.3m. Group revenue grew 10% to NZ$390m.
The Agricultural Division generated NZ$128m of revenue, an annual increase of 13%, and reported EBIT of NZ$39.6m, up 12%. The division makes rubberware, milking liners, tubing and animal-hygiene products. Sales of consumables used by commercial dairy farms increased 15% worldwide, with established high-volume production regions in the US and Europe providing the main sources of demand.
Skellerup said production volumes reached record levels across its international manufacturing operations. Demand for milking liners, silicone tubing and rubber tubing supported increased output at facilities in New Zealand and the United Kingdom. Revenue in the domestic New Zealand market also rose, with farmgate milk payments affecting the timing of farmers’ purchases and coinciding with wider use of the company’s Thriver calf-feeding teats.
Chief executive Graham Leaming said sales of essential consumables for the global dairy industry had risen by 15%, adding that the US and European markets were the key drivers. The company’s agricultural performance included stronger offshore sales of milking liners and Thriver calf teats.
Skellerup reported that the result was delivered while the company managed raw-material supply constraints linked to geopolitical conflict in the Middle East and changing international tariffs. Its Industrial Division also increased EBIT, by 17% to NZ$56.6m, through sales of precision polymer seals and vacuum systems.
The board declared a final dividend of 20 cents per share, taking the full-year dividend to 30 cents per share, of which 40% was imputed. Skellerup’s shares on the NZX reached NZ$7.20, an increase of NZ$2 over the preceding eight months.
