Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Quotable Value Annual Report

Quotable Value New Zealand has reported a net operating surplus of $0.670 million after current year tax expense, Quotable Value Chairman, Richard Westlake, announced today.

However the impact of a Privy Council decision, ruling out tax deductibility on the transfer of leave liabilities from the original government department into the new company in 1998, has reduced the reported after tax surplus to $0.102 million.

“The operating result is a very strong one for Quotable Value as it continues to adjust to a fully de-regulated market. Revenue was, as predicted, down significantly from $28.2 million to $21.6 million, but the company’s ability to provide service to customers, develop innovative products and keep a close eye on costs has ensured another year in which achievements were beyond expectations,” said Mr Westlake.

Quotable Value’s three divisions, QV Rating, QV Valuations and QV On-line, have all had strong years, said Mr Westlake. QV rating has retained more of the company’s traditional rating valuation business than expected and has also won business in the Australian market for the first time. QV Valuations has increased business by 35% in the last year, when growth in the overall commercial valuation market was static. QV On-line’s major product, InfoBase ( www.qvonline.co.nz ), has captured more than a third of the market and is continuing to develop new products and services to meet the strong demand for information delivered through the internet.

“In the next 12 months Quotable Value intends to

 continue to develop new markets, especially in Australia.
 develop new services for the key local body client base,
 continue to expand our commercial valuation services, and
 meet the strong demand for accurate and timely information delivered through the internet,” said Mr Westlake.

“The Quotable Value Team led by Bill Osborne has done an excellent job in confronting the challenge of de-regulation and positioning Quotable Value as a leading player in the delivery of high quality, property-related information. The company is well placed to continue to exceed expectations,” said Mr Westlake.

ENDS

Contact: Nigel Jeffries on 04 473 8555
Richard Westlake on 021 443137

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Retail: International Websites To Pay GST

New rules would be aimed at imported goods valued at or below $1,000. Customs would retain responsibility for collecting GST on imported parcels valued more than $1,000. More>>

ALSO:

High-Level Advice: PM’s Business Advisory Council Membership Announced

The Prime Minister’s Business Advisory Council brings together a mix of experts, six women and seven men with small to large business experience, from across New Zealand, to provide advice. More>>

ALSO:

Improving: Report Shows New Zealand Air Quality 'Good'

Our air 2018, produced by the Ministry for the Environment and Stats NZ, shows that while some previously known issues persist, progress has been made and levels of some pollutants are declining. More>>

ALSO:

Greenpeace: Govt Extends OMV Exploration Permit

The Government has just granted oil giant OMV a two-year extension to drill in the Great South Basin, despite issuing a ban on new oil and gas exploration permits in April. More>>

ALSO:

Collective Bargaining For Contractors: Working Group's Model For Screen Sector

A recommended model to allow collective bargaining for contractors in the screen sector has today been unveiled by the Government-convened Film Industry Working Group. More>>

ALSO:

Kauri Dieback: DOC Closing Tracks To Protect Trees

The Department of Conservation will close 21 tracks across kauri land to help prevent the spread of kauri dieback. An additional 10 tracks will also be partially closed and the open sections upgraded... More>>