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Schaffer Corporation Limited SCHAFFER REPORTS FY21 HALF - YEAR PROFIT OF $ 23.1 MILLION Dear Shareholder , 17 February 2021 Schaffer Corporation Limited ( ASX : SFC ) today reported a half - year statutory net profit after tax ( NPAT * ) of $ 23.1 million ( H1 FY20 : $ 13.9 million ) . The result included approximately $ 10.0 million NPAT ( H1 FY20 : $ 3.2 million ) in unrealised , non - cash gains on the Group's equity investments . The increase in NPAT also reflected strong performance from the Automotive Leather division , which increased profits by 13 % over the same period last year . The Group's investments at market value increased 11 % during the half . The pre - tax net equity value1 was $ 181.0 million ( 30 June 2020 : $ 162.6 million ) . This includes $ 7.3 million of new investments and $ 21.6 million in cash deposits . The Board has declared an interim fully franked ordinary dividend of $ 0.45 per share . The interim dividend matches that of last year . Revenue ( $ m ) NPAT * ( $ m ) Earnings per share Interim dividend per share ( fully franked ) * Net Profit after tax and 16.83 % minority interests . AUTOMOTIVE LEATHER Revenue ( $ m ) Segment NPAT * ( $ m ) * Net Profit after tax and 16.83 % minority interests . Half - Year to 31 - Dec - 20 102.1 31 - Dec - 19 92.7 23.1 13.9 $ 1.70 $ 1.02 $ 0.45 $ 0.45 Half - Year to 31 - Dec - 20 88.8 12.6 31 - Dec - 19 78.5 11.0 The Automotive Leather division performed strongly during the first half . Both revenue and profit increased 13 % . The division's performance was assisted by the commencement of two new programs and a strong recovery in sales volumes across auto manufacturers . Schaffer Corporation anticipates continued sales volume improvement in the second half . Nonetheless , the Group remains cautious due to key risks that could impact the division : • Ongoing impacts from Covid - 19 , particularly in Europe Increasing hide prices • • Disruptions in the automotive industry supply chain • Strengthening of the Australian dollar against the Euro , which negatively impacts the division's revenues • Overall economic uncertainty . Taking the above risks into consideration , Schaffer Corporation expects second half profits to be marginally lower than the strong result achieved during the first half . 1 SFC's share of market value less SFC's share of debt Head Office : 1305 Hay Street , West Perth WA 6005 Postal Address : PO Box 770 , West Perth WA 6872 Telephone : +61 8 9483 1222 Facsimile : +61 8 9481 0439 Website : www.schaffer.com.au Schaffer Corporation Limited ABN 73 008 675 689 Page 1