Week in review

Friday 7th November 2003

State-owned generator Meridian Energy reported a June first-half $26.3 million profit before one-offs, down from $83 million a year ago. It blamed high wholesale prices during last autumn's shortages.

Biotechnology company Blis Technologies is looking to raise $3.1 million through a one-for-two rights issue after posting a $1.4 million September first half loss. It said it was changing its stance from development of products such as Throat Guard to offshore marketing.

Fisher & Paykel Appliances is splitting its share capital four-for-one. The split will leave 261 million on issue.

Ohio Public Employees Retirement System notified a 7.29% stake in Fletcher Challenge Forests, which is considering two offers for its forests.

Payment solutions company Cadmus Technology reported September first quarter earnings before interest, tax, depreciation, and amortisation of $403,000 on revenue of $3.4 million. The results were down on earnings of $700,000 and revenue of $4.1 million a year ago.

Telecom signed a five-year eftpos enhancement partnership with Electronic Transaction Services Ltd. ETSL is owned by ASB Bank, Bank of New Zealand, National Bank and Westpac.

Air New Zealand reported a 19% jump in domestic passengers carried in September over the same month a year ago, vindicating its Express Class strategy. Revenue passenger kilometres were up 20%.

Strong advertising demand helped lift CanWest New Zealand's August-year earnings before interest, tax, depreciation, and amortisation 85% to $39 million. TV3 earnings jumped from $1.4 million to $21 million but the C4 music channel lost $7 million.

Fishing company Sanford will celebrate its 100th birthday in February by paying a 20c special dividend. It said its 13-month full-year profit would be at least 20% higher than last year's $37 million.

Infrastructure investor Infratil's September first-half earnings before interest, tax, depreciation, and amortisation rose 41% to $29.06 million. Realised investment gains were $1.9 million, down from $20 million a year ago, resulting in a 36% lower $12.5 million bottom line gain.

State-owned air traffic controller Airways posted a $6.8 million June-year profit, down from $7.5 million a year ago

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