Company results in brief

Friday 8th March 2002

Organic weed-control developer Certified Organics, formerly aquarium operator AQL Holdings, reported a $1.2 million December-year operating loss, better than the forecast $1.9 million loss, and forecast a $1.5 million loss for the December 2002 year. It had $600,000 of net cash.

Unlisted Waipara Hills Wine Estates reported a $766,000 start-up loss to December. The company said it was tracking in line with prospectus forecast of an $864,000 June-year loss. A profit is forecast for the 2004 year.

Broadway Industries posted a $707,000 profit for the December half-year on turnover of $19.8 million. No dividend will be paid.

New Zealand Refining made $36.5 million in the December year, down from $69.4 million in 2000 when strong margins and a high US dollar boosted results. Some issues stemming from last year's "dirty diesel" affair, which have cost the company $6.5 million, have yet to be resolved.

Council-owned Wellington port operator Centreport posted a $3.4 million net profit, up from $3.3 million a year ago, on 6% higher revenue of $19.7 million. The port cited significant increases in international cargo volumes.

Tourism operator Shotover Jet's December first-half profit rose 52% to $882,000, largely as a result of cost controls and the "back to basics" focus. Visitor numbers were expected to improve in the second half and the company predicted a "solid" full-year result.

Telecommunications systems supplier GDC Communications posted a 17.6% higher $3.5 million December-year profit on revenue up 65% at $68.7 million.

Unlisted investment company Southern Capital's December first-half profit rose to $6.1 million, from $542,000 a year ago. Revenue was $12.2 million, compared with $1.9 million in the first half of last year.

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