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

 

Quotable Value Reports 35% Increase


Quotable Value Reports 35% Increase in After Tax Surplus

Crown-Owned property information company Quotable Value New Zealand Limited has reported a 35% increase in net surplus after tax, from $0.83 million in 2001 to $1.13 million in 2002, Quotable Value's Chairman, Richard Westlake, announced today.

This significant improvement in the final result follows an 11% increase in group turnover, to $26.1 million, and represents a 14.9% return on average shareholders' funds. Quotable Value will pay the Crown a dividend of $0.54 million.

“This has been a year of significant momentum for Quotable Value,” said Mr Westlake. “All three operating divisions, QV rating, QV valuations and QV on-line, have increased their business beyond expectations over the last 12 months and Quotable Value’s business in New South Wales has doubled,” said Mr Westlake.

“Investment in new products, developing the skills of Quotable Value’s staff and convincing customers here and overseas that we have cost-effective ways of delivering and processing information relevant to their businesses continue to be the main drivers of Quotable Value’s performance in the four years since it became a Crown-Owned Company,” said Mr Westlake.

Mr Westlake said Quotable Value’s key new product in the last 12 months was e-valuer (http:// http://www.quotable.co.nz). It provides up to the minute estimates on property values to both the general public and subscribers and, like the Infobase product introduced last year, is already in high demand. “Property information is ideal for delivery through the internet and is fundamental to Quotable Value’s future. We are determined to remain an innovator and leader in this area.”

“It should also be noted that innovation by Quotable Value, following de-regulation of the rating valuation market in 1998, has delivered significant direct benefits to New Zealand taxpayers and ratepayers. Taxpayers benefit through Quotable Value’s dividends to the Crown shareholder. And ratepayers have, we estimate, saved about $15 million each year in costs of their rating valuation services,” said Mr Westlake.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

ScoopPro: Helping The Education Sector Get More Out Of Scoop

The ScoopPro professional license includes a suite of useful information tools for professional users of Scoop including some specifically for those in the education sector to make your Scoop experience better. More>>

Big Tax Bill Due: Destiny Church Charities Deregistered

The independent Charities Registration Board has decided to remove Destiny International Trust and Te Hahi o Nga Matamua Holdings Limited from the Charities Register on 20 December 2017 because of the charities’ persistent failure to meet their annual return obligations. More>>

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>

ALSO:

Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

 
 
 
 
 
 
 
 
  • Bill Bennett on Tech