Company Results

Friday 25th August 2000

Baycorp Holdings reported a $15.7 million June-year net profit (1999 $13.4 million) on 13% higher revenue of $58.5 million. Chairman Roseanne Meo said growth in the core business accelerated during the year after five years of 20%-plus growth. New products and services and the Alliance Group joint venture in Australia provided further opportunities.

Ebos Group's June-year net profit was flat at $4.24 million (1999 $4.25 million) despite 12% growth in sales to $80.8 million. The medical equipment supplier said the weak dollar depressed the result but added it was pleased with progress in all business groups and was confident of strong growth.

Wilson & Horton Holdings recorded a net loss of $9.1 million (1999 net profit $160.2 million) for the June half-year after taking a $30.1 million foreign exchange loss. Last year's result was inflated by unrealised currency gains. Before one-offs the result was a profit of $18.6 million, down 6% on the previous corresponding period.

Frucor Beverages' June-year net profit was $9.6 million (1999 $3.2 million), slightly ahead of its prospectus forecast. The company noted non-fruit juice sales had risen from 36% of the total to 62%.

Trans Tasman Properties reported a $10.6 million June first half net profit (1999 $7.2 million). Debt rose to $700 million as a result of funding for subsidiary Australian Growth Properties' 363 George St, Sydney, office tower. The result included $7.4 million of losses on New Zealand property sales.

Cashed-up shell South Eastern Utilities posted a $2.5 million June-year profit ahead of a move into e-commerce and technology investment. SEU has $65 million of cash from the sale of Wairarapa Electricity and said it was concentrating on three prospects. It has already invested in ASP (application service provider) ViaNet.

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