DIVERSIFIED industrial group Schaffer Corporation provided earnings details to the market this week. Schaffer recorded a net profit after tax of $9.9 million for the year to June 30. Excluding the one-off sale of land in West Perth, the result was $9.2 million. This adjusted figure was down from $13.8 million the previous year. Schaffer will pay a final fully-franked dividend of 25 cents a share.The company said in a statement that the year’s difficult trading conditions had the greatest impact on the automotive leather division, contributing 46 per cent of the group’s earnings. Schaffer said it expects challenging trading conditions to continue in the leather division into this financial year, as high oil prices continue to impact upper-end vehicle sales.
© Business News 2018. You may share content using the tools provided but do not copy and redistribute.