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

 

HortResearch reports loss for year


HortResearch reports loss for year

HortResearch's annual report, released today, reveals a $738,000 loss, mainly due to restructuring costs of just over $900,000. Restructuring followed the announcement of a $5.5m reduction in Foundation for Research, Science and Technology funding for the coming year.

While revenue for the year was below target, strong growth was recorded in commercial contracts and there were increases in income from royalties and licence fees. Total expenditure was kept below budget and borrowings were lower than planned.

Mr McGilvary said, "We have growth strategies in place that we will not be realised until the next financial year. In the year to June 2002, we established several joint ventures to commercialise products and discoveries. These will provide a clearer path to market and are critical for commercial revenue growth.

"HortResearch has made significant capital investment in its facilities and with our world-class scientists we have the ability to compete successfully in the future in the global market for science services."

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Real Estate: Foreign Buyers Ban Passes Third Reading

The Bill to put in place the Government’s policy of banning overseas buyers of existing homes has passed its third and final reading in the House. More>>

ALSO:

Nine Merger: Fairfax Slashes Value Of NZ Business

Fairfax Media Group more than halved the value of its Kiwi assets, attaching just A$40 million to mastheads that were once the core of a billion dollar investment. More>>

Collecting Scalpers: Commerce Commission To Sue Viagogo

The Commission will claim that Viagogo made false or misleading representations: • that it was an “official” seller, when it was not • that tickets were limited or about to sell out • that consumers were “guaranteed” to receive valid tickets for their event • about the price of tickets... More>>

ALSO:

Price Of Cheese: Fonterra CEO Goes Early After Milk Price Trimmed

Aug. 15 (BusinessDesk) - Fonterra Cooperative Group chief executive Theo Spierings is leaving the role early after the world's biggest dairy exporter lowered its farmgate payout and trimmed its dividend to retain cash. More>>

ALSO: