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


Quotable Value Group Reports Strong Increase

Quotable Value Group Reports Strong Increase in After Tax Surplus

Crown-Owned property information company Quotable Value Limited has reported a 252% increase in group net surplus after tax and amortisation, from $0.689 million in 2002 to $2.426 million in 2003, Quotable Value's Chairman, Richard Westlake, announced today.

This significant improvement in the final result follows a 12% increase in group turnover, to $29.3 million, and represents a 42% return on average shareholders' funds. Quotable Value Limited will pay the Crown a special (one-off) dividend of $1.0 million on top of the normal dividend of $1.2 million representing 50% of the operating surplus after taxation.

“A huge cultural change has taken place within the organisation” said Mr Westlake. “This new culture combined with the innovative new work processes and technology implemented over the past 5 years have combined to deliver an outstanding result.”

“While our core focus remains in New Zealand, expanding into new markets ensures that growth and value-creating opportunities are maximised while our ability to deliver our New Zealand clients cost effective, value-adding services is preserved.”

Continued investment in Quotable Value’s Australian businesses has involved the acquisition of three branches of Egan National Valuers giving QV a strong entry into the valuation and property consultancy markets of New South Wales, Victoria and ACT. “We anticipate a strong contribution from these ventures in future years,” said Mr Westlake.

Mr Westlake also reported that Quotable Value had sold its 50% shareholding in QVRP for a good return, after a successful year of trading.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Budget Policy Statement: 'Wellbeing Of NZers At The Heart Of Budget Priorities'

“We want a wellbeing focus to drive the decisions we make about Government policies and Budget initiatives. This means looking beyond traditional measures - such as GDP - to a wider set of indicators of success,” Grant Robertson said. More>>


Short Of 2017 Record: Insurers Pay $226m Over Extreme Weather

Insurers have spent more than $226 million this year helping customers recover from extreme weather, according to data from the Insurance Council of NZ (ICNZ). More>>

Environment Commissioner: Transparent Overseer Needed To Regulate Water Quality

Overseer was originally developed as a farm management tool to calculate nutrient loss but is increasingly being used by councils in regulation... “Confidence in Overseer can only be improved by opening up its workings to greater scrutiny.” More>>


Deal Now Reached: Air NZ Workers Vote To Strike

Last week union members voted overwhelmingly in favour of industrial action in response to the company’s low offer and requests for cuts to sick leave and overtime. More>>