Loyalty New Zealand, which operates the Fly Buys loyalty programme used by companies including Air New Zealand, posted a 64 percent gain in annual profit to a record as more kiwis chased points offered by its vendors.
Profit climbed to $2.7 million in the 12 months ended March 31, from $1.66 million a year earlier, according to the Wellington-based company's annual report. Sales rose to about $82 million from $79 million.
Fly Buys can be earned at 52 businesses, with points redeemed for gifts or discounts. Members can swipe their cards at outlets such as New World supermarkets and businesses ranging from 2degrees to Avis, and Bank of New Zealand to Z Energy, generating consumer spending data than can power its LAB360 analytics service. Fly Buys members claimed $82 million of rewards in 2014, up from $80 million in 2013.
"The results for FY 2014 are again really strong. We have seen an increase in points issuance and redemptions, indicating increasing customer demand for our currency," chief executive Stephen England-Hall said in an emailed statement.
"The increase in profit reflects the strong growth in the Fly Buys programme, plus a solid performance from our data analytics and insights business," he said.
