Unaudited results released recently by Scantech International , a world leader in process control technologies show a significant rise in profit.
The Company made a preliminary announcement before the official release of its Yearly Accounts for the period ended 30 June 2013 to the Australian Stock Exchange, which is due by 30th August 2013.
The Company announced an unaudited profit before tax for the year ended 30 June 2013 of $4,440,987 compared to $2,324,726 profit before tax for the same period last year.
This includes a profit of $237,460 for exchange variance made up of $38,722 of realised exchange loss and $276,182 of unrealised exchange gain.
Scantech’s normal practice is to review current contract jobs with profits recognised based on the stage of completion, costs to complete and jobs being closed. At 30 June 2013 additional profit of $1,005,347 was recognised as a result of the latest review.
At $17,723,583 (2012: $15,406,566), sales showed an increase of 15% over last year.