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Reporting season at a glance

Friday 1st September 2000

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Guinness Peat Group reported a June first half net profit of £10.6 million ($36.1 million), down from £106.4 million ($362 million) a year ago, when profit was swelled by the disposal of investments. No investments were sold this year.

ASB Bank's June-year operating profit was $150.1 million (1999 $117.3 million). It cited higher market share and expansion into new activities.

Telecommunications operator Newcall posted a $4.3 million June first-half loss on revenue of $8 million. It had 24,300 customers.

New Zealand Rural Property Trust reported a $6.4 million June-year profit (1999 $3.3 million), citing better prices, favourable weather and the lower dollar.

Rural services company Wrightson reported a June-year profit of $7.5 million (1999 $9.3 million loss), citing group-wide earnings improvements and lower costs.

Reid Farmers posted a $4.6 million June-year profit, up from $4 million in 1999, and forecast further progress this year.

Shotover Jet's June-year net profit was $484,000, down from last year's $2.7 million. It blamed an accident, floods, the weather, a disappointing start to the millennium and the Fiji coup.

Evergreen Forests lifted its June-year profit to $5.1 million (1999 $3.1 million), citing increased harvesting and sales in response to better log prices.

Ravensdown Fertiliser Co-operative posted a $22.4 million May-year profit, down from $24.2 million after paying a higher rebate.

Clear Communications lost $30 million for the March year but said it was back in profit in the current year.

Air New Zealand's June-year net earnings fell 13.2% to $186.1 million on lower abnormal gains while the trading profit rose 33.6% to $177.9 million.

Builder McConnell Dowell posted a $A14.0 million ($18.4 million) June-year profit, down from $A19.3 million a year ago.

Port of Tauranga's June-year profit was a record $19.6 million (1999 $18.1 million).

Carpet maker Cavalier boosted its June-year profit to $13.1 million, up from $10.6 million a year ago.

Fletcher Challenge showed a sharp rise in group profit to $382 million, up from $101 million in the previous year. The net profit for Energy was $261 million (1999 $55 million), Building $63 million (1999 $23 million), and Forests $81 million (1999 $55 million).

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