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


Vending Technologies On Track To Meet FY Target

Vending Technologies On Track To Meet Full Year Target

AUCKLAND, 6 November 2001 – Smart vending company, Vending Technologies Ltd (NZSE:VTL), today announced a net operating surplus of $1.8 million for the six months to 30 September, 45 percent ahead of the same period last year.

The result was achieved on total operating revenues of $8.5 million, down 9 percent on the corresponding period last year.

Chairman Richard Janes said that, given recent market conditions, the result was satisfactory and the Company is on track to meet its full year forecast surplus of $4.9 million when seasonal and other factors are taken into consideration.

Condensed statement of financial performance


Six months ended 30 September 2001


2001 2000
Operating Revenues $8.5 $8.9
Operating Surplus Before Tax $1.8 $1.9
Operating Surplus After Tax $1.8 $1.2
EPS* 6.1¢* 26.3¢*

* Based on weighted average of shares on issue of 29.5 million at 30 September 2001 and 4.75 million at 30 September 2000.

“A large proportion of the costs associated with the establishment and rollout of the VendSmart licensing programme into New Zealand and Australia were incurred in the first half year and, significantly, VendSmart has recently confirmed its potential to both reduce company costs and to enhance revenue.” Dr. Janes added, “Fast Moving Consumer Goods signage revenue will strengthen in the second half year.”

“The Board has monitored conditions closely since September 11 and has balanced our growth plans against the risks and uncertainties,” he said. “We retain a strong interest in expanding our presence in the Australian market but in the near term will target the organic growth available to us there and the revenue enhancement the VendSmart programme provides.”


About Vending Technologies Limited
Vending Technologies Limited supplies and operates electronically enhanced food and beverage vending machines throughout Australasia. Established in 1997, the company manufactures, sells, maintains and services vending machines and licenses branded electronic vending businesses under its VendSmart programme.

The company has developed a proprietary computerised management system to enable tracking of all transactions, with complete revenue accountability and the ability to monitor the performance of each machine from remote locations.

Vending Technologies’ independence means it has a network of long-term alliances with leading suppliers of major branded convenience food and beverages offering consumers an extensive choice of leading brand snacks, meal replacements and drinks.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news