Company results

Auckland Airport


Auckland International Airport is forecasting continued growth after posting a December half-year profit of $28.54 million, up 15 per cent on the $24.8 million in the year ago period.

The company posted a 5cps fully imputed dividend, up from 4.5cps, to be paid on March 20.

Earnings per share rose to 6.79c from 5.91c.

Chairman Wayne Boyd said: "Provided activity continued at present levels, there is every indication that this result can be repeated for the second half of the year."

Mr Boyd said that passenger and aircraft movements in the half-year were a record, international passenger numbers had grown 7.9 per cent, domestic passengers 5.5 per cent and domestic takeoff weights were up 7.8 per cent.

Revenue rose 9.9 per cent to $93 million while operating profit rose 18.3 per cent to $43.6 million.

Michael Hill


Jeweller Michael Hill International is disappointed, despite reporting a record net profit of $7.75 million for the December half-year, up from $7.5 million for the year ago period.

The 3.4 per cent increase in profit was achieved on a 4.2 per cent increase in turnover to $104.73 million.

Earnings per share rose to 20.1cps from 19.4cps. The company declared an 8 per cent increase in the interim dividend to 6.5c per share with full imputation credits attached.

Along with most other Australian retailers, the Australian company, which has 71 stores, experienced difficult trading conditions in the first three months of the financial year associated with the introduction of GST on July 1, and the Sydney Olympics.

Nuplex


Chemicals company Nuplex posted an unaudited December half-year net profit of $8.68 million, down 4.6 per cent on the record $9.1 million profit for the same period last year.

The company will pay an imputed 8c per share dividend, the same as last year, because of the company's "strong cash flow and confidence in the future," said chairman Fred Holland.

"In spite of the difficult trading environment, earnings before interest, tax and amortisation was only 3 per cent below the same period last year," Mr Holland said.

Earnings per share of 15.3cps is down on last year's 16.4cps.

Property For Industry


Listed industrial property owner Property For Industry posted a full-year profit of $3.91 million, down 57 per cent on the previous year.

The profit, for the year ended December, included the returns from sales of five properties.

The company made $34 million worth of acquisitions, it said.

Property For Industry's portfolio devalued by 2.4 per cent during the year. The company announced an imputed final net dividend of 1.54c per share, bringing the full-year gross dividend to 6.88cps.

Earnings per share dropped to 2.18c per share from 5.05cps for the previous year.

Gross assets rose to $216 million from $181 million due to acquisitions. Rentals grew 11.3 per cent to $19.2 million.

Port of Tauranga


Port of Tauranga has announced a net profit for the six months to December 31 of $10.6 million, up from $9.5 million in the previous corresponding period.

During the period, 139,963 twenty foot equivalent units, or TEUs, movements were handled at the port. This represents a 30 per cent increase on the December 1999 figure of 107,368 TEUs - and is nearly triple the 48,000 TEUs handled in the six months to December 31, 1998.

Hellaby


Industrial and retail investment company Hellaby Holdings reported a half-year net profit of $4.3 million, up 5 per cent from a year earlier.

The significant fall in the New Zealand dollar and low consumer spending during the period clawed back the strong trading results in some of Hellaby's investments, the company said.

Earnings before tax and interest increased to $7.7 million from $7.4 million and earnings per share rose 4.8 per cent to 17.3cps, while the interim dividend remained at 7cps.