Reporting Season - Briefly

Friday 7th September 2001

Paper pumps profits

Printer and publisher Wilson & Horton reported an 8.6% lift in June-year operating profit, helping its owner, Ireland's Independent News and Media, to post a record operating profit of 109.3 million euros ($225 million). The parent did not disclose W&H's dollar results.

Otter bites GPG

The complete write-off of the disastrous Otter Gold Mines investment dented Guinness Peat Group's June first-half profit. The group's net gain was 7% ahead at £12.3 million ($41.2 million). Chairman Sir Ron Brierley (pictured) said the £5.3 million Otter write-off was "hopefully, an extreme case scenario."

Newcall switches on

Newcall Group lost $4.6 million in the June first half after incurring $2.9 million of start-up costs at its Singaporean subsidiary. The group has exited telecommunications in New Zealand and Singapore and now operates only the Energy Online retail electricity business.

Delay dents Rocom

New capital markets-listed Rocom Wireless reported a maiden $295,000 June first-half net profit on turnover of $2.6 million. The company said revenue had been impacted significantly by Telecom's delay in the rollout of its new CDMA mobile network.

Exports power profit

Bluff-based South Port's June-year profit rose by 12.4% to $2.2 million, boosted by higher agricultural exports. Cargo volumes were a record 1.95 million tonnes and revenue from port and warehousing operations lifted 12% to $12.4 million.

Rights boost Shotover

In a week that saw another jetboating accident and the close-down of jetboat operations Shotover Jet reported a $2.2 million June-year operating surplus, up from $484,000 a year ago. A $2.6 million revaluation of Shotover River rights helped boost the bottom line gain to $4.5 million.

Hotel sisters slip

CDL Hotels posted a 40% higher $4.8 million June first-half profit but its sister groups slipped. Kingsgate Hotels, of which CDL Hotels owns 51%, posted a slightly lower $3.4 million gain while 60.5%-owned CDL Investments' profit was down 40% to $1.4 million.

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