Leather business accounts for bulk of Schaffer group profits

04/03/2003

Australia’s Schaffer Corporation has posted a 53% rise in earnings for the first half to December 31 2002 - the main driver being the company’s largest business, Thomastown, Melbourne-based Howe Leather.

Earnings for the period exceeded the company’s own expectations of November 2002 of A$9.8 million ($6.1 million) , coming in at A$10.3 million. (For that story, use leatherbiz.com search facility on News page, entering ‘Schaffer’ in search box.) The board doubled the interim dividend to A50¢ a share on the release of the figures, keeping the company on track for the full year dividend of A$1.

To continue reading this story, please sign in or register.