Scott chairman Stuart McLauchlan reiterated concerns on the "irrational exuberance bubble-economy" which led to the present financial crisis and the likelihood it will impact on global economies for several years yet.
Credibility and leadership had been eroded in the United States, eventually threatening the entire global financial system, but the global shift between regions and countries saw Scott supplied with "several large orders" from the Chinese and European markets.
More than 60 shareholders attended the 13th annual meeting for shareholders, held at its new plant in Kaikorai Valley Rd in Dunedin.
Scott's Dunedin operations focus on a meat-industry robotics joint venture with Silver Fern Farms.
Its Christchurch-based operation produces automated assembly lines which are sold around the world, while its Auckland-based Rocklabs mine-engineering division also exports globally.
Early last October, Scott reported a return to a full-year to August after-tax profit of $390,000, following a loss of $1.1 million the year previous, but warned that having just been through "one of the most turbulent economic downturns", management also held concerns for the present financial year.
At the time Scott's managing director Chris Hopkins said the company's forward workload was "reasonable" and he expected a "solid result" from the present first-half year's trading , but the volatility of the New Zealand dollar "remained a headwind and wildcard" when determining Scott's competitiveness for the year ahead - a sentiment he repeated to shareholders yesterday.
"Our reputation and long-standing in the market enabled us to increase our market share, both in North America and in Europe and this, along with our activities in China, has helped us to sustain ourselves over the past two to three years," Mr Hopkins said.
All Scott's operations - in Dunedin, Christchurch and Auckland - were "extremely busy" at present.
Following the meeting, Mr Hopkins said there was more than $20 million in present projects under way, but not all necessarily coming through this year's financial bottom line.
"For the present level of inquiry, we are currently bidding on, or in, early discussion with customers for four mining industry projects, five appliance systems and multiple meat processing systems . . . [worth] in excess of $40 million and at least another 15 prospects are in early stages," Mr Hopkins said.
Scott had recently started a new Dunedin subsidiary, FabTech, to undertake stainless steel fabrication; was separately investigating a dairy industry joint venture and had also entered into "industrial automation", acting as a design and manufacturing engineering consultant with four companies at present.
Mr Hopkins said the latter project had the potential to turn over $10 million during the next three years.
In spite of the turbulence of the previous year, Scott increased its cashflows, from $27.8 million the previous year to $29.6 million and its operating revenue rose from $25 million to $31.3 million.
This was supported at the end of the financial year by $35.4 million in total assets, modest bank debt of $4.5 million and $1.5 million cash in hand.
Scott's meat-industry robotics venture, after having $14 million put in by several partners including Silver Fern farms, had now turned the corner to commercialisation and achieved a $3 million turnover, Mr Hopkins said.
