By NZPA
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Tuesday 3rd September 2002 |
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The company, which will pay a fully imputed dividend of 1.25 cents per share, made $4.501 million in the previous year to June 30.
Despite the lower profit, Shotover Jet said 2002 has been a successful year, with improved returns.
Increased revenue was offset by a reduction in visitor numbers after September 11, which affected the company's busy season between October and December.
However, the company said tourist numbers were strong from January onwards, and that its cash position was $3 million ahead this year.
The company was also pleased with its $3.638 million net surplus before non trading items and taxation -- a 67 percent increase on last year's result.
Shareholders' equity stood at $21,685,000, 23.4 percent ahead of last year.
Total operating revenue was $24.5 million compared to $25 million, boosted by a $666,000 increased valuation in Rainbow Springs.
Operating surplus before tax was $4.3 million ($4.5 million).
While the company remained committed to a "back-to-basics" approach, it said it was now starting to look at new investment opportunities.
It said it would be in full tax-paying position in the 2003 financial year.
Shotover Jet said it had also worked hard on improvements to health and safety and risk management following an incident last August when a jetboat slammed into a rock wall, injuring after the engine failed.
Among the changes is a computer-based critical parts tracking process to keep track of boat componentry.
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