Shotover seeks new boss, higher profits

The profit for the six months ended December is up considerably on the $211,000 the company made in the same period the previous year, although no tax was payable as it carried forward unbooked tax losses.

Sales revenue rose to $12.12 million from $10.47 million in 1999.

SJL says all its subsidiaries traded satisfactorily during the period although adverse weather in Queenstown cost its Shotover Jet business six of its largest trading days between Christmas and New Year.

The other exception was the company's business in Fiji, which remains in a semi-operational state providing trips two days per week or as required by demand. The investment in Fiji will be reviewed in the medium term.

Christchurch Tramway made a profit contribution to the latest result although the business has been sold conditionally. A capital profit of $107,000 is expected when the sale is completed.

SJL is picking a stronger second half, saying hoteliers and airlines have reported very strong bookings for the remainder of the summer tourism season, which should flow through to it tourist operations.

Meanwhile the company has announced its MD of 15 years, Jim Boult, will step down from the position within the next two months.

Mr Boult is leaving to pursue private business interests and a search for a new chief executive is already underway.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.