Company briefs

Friday 6th September 2002

*Auckland International Airport reported a record $71 million June year net profit, up from $59 million a year ago. Land revaluations of $169 million took total assets to $1.1 billion.

*Skellmax Industries, which listed on June 19, reported June-year earnings before interest and tax of $18.9 million. Managing director Donald Stewart said the market was "challenging" but noted the company's manufacturing processes were able to respond quickly to changing circumstances.

*Shotover Jet's June-year net profit fell 10% to $4.1 million but profit before non-trading items and tax was up 67% to $3.6 million. The 2001 bottom line was boosted by $2.3 million of abnormal gains.

*Blue Star Print Group, which last year issued capital notes, posted a $4.4 million annual profit on revenue of $290 million.

*Axa Asia Pacific reported a 10% higher $A134 million ($158 million) June first-half profit despite falling sharemarkets and said it was positioned for growth "when consumer confidence in equity markets improves."

*Pyne Gould Corporation, the parent of listed Pyne Gould Guinness, produced a $13.1 million June year profit. It said accounting policy adjustments made a comparison with the previous year ($15.5 million) less relevant.

*Aged care operator Metlifecare said cost and efficiency gains boosted June first-half net profit 36% to $4.1 million. Before abnormals the improvement was 86%.

*South Port New Zealand's June year net profit climbed 22% to $2.7 million on a buoyant Southland and Otago economy. Revenue rose to a record $14.2 million.

*Property group Trans Tasman Properties plunged to an $8.4 million June first-half net loss following a $5.2 million profit a year earlier. The company sold properties and reduced debt but booked $10.7 million of losses on the sales.

*Broadway Industries posted a 45% higher $1.1 million June year net profit. Sales at the HE Perry photographic supplies division fell 12% but profits were maintained. Mercer Stainless sales grew 11% to $20.7 million.

*Savoy Equities reported a $159,000 June first-half profit as the company searched for business to replace the Britomart development. Savoy has shareholders' funds of $63,000.

*Advantage Group recovered from a disastrous 2001 with a $4.5 million June year net profit. The surplus included $2.2 million of unusual gains following $66.7 million of unusual losses a year ago.

*Calan Healthcare Properties Trust cited revenue growth and cost cuts as it reported an 5% higher $9.1 million June year profit. Before tax the result was up 18% to $10.6 million.

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