The group was affected by the large Australian mining operators deferring - rather than cancelling - planned maintenance and productivity-related activities due to substantially lower iron ore prices.
''As planned, we have incurred additional cost building a stronger capability in the United States market and this is already beginning to deliver increased earnings,'' he said.
The company reported revenue of $95.5 million for the period, a figure down 1% on the $97.3 million reported in the previous corresponding period.
Operating earnings were down 10% to $14 million from $15.6 million and the reported profit was also down 10% to $9.7 million from $10.8 million. Net cash held at balance date was $7.8 million.
The interim dividend of 3 cents per share remained unchanged.
Craigs Investment Partners broker Chris Timms said the result would not be marked down by investors because the dividend was maintained, the company had no debt and had cash in the bank.
''It's not an exceptional result but there is nothing there to fire anyone up. Whenever you see the dividend cut, or the growth outlook is below expectations, you see the market react,'' he said.
Mr Mair said an uplift of sales across the industrial division was not enough to offset lower sales into the Australian mining sector.
Industry reports have indicated that the volume of iron ore mined in Australia has continued to increase year-on-year.
However, Skellerup was cautious on the timing of any recovery as maintenance activities and contemplated expansion and productivity projects could not be predicted and customers were more conscious of reducing inventory levels.
The agriculture division earnings increased due to growth in sales of dairy rubberware, animal hygiene products and rubber footwear products into international markets.
The company expected the full-year reported profit would be in line with the 2014 result of $20.7 million, excluding the gain attributable to the Canterbury earthquakes insurance claim, Mr Mair said.
