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


Solnet Solutions Achieves Profitability Objectives

Solnet Solutions Achieves Profitability Objectives

Just six months after launching, IT solutions company SolNet Solutions is trading profitably.

Established in November 2003, SolNet Solutions acquired the professional services, software development and support service capability of SolNet Ltd. SolNet Solutions offers vendor-independent business solutions, and includes amongst its clients Accident Compensation Corporation, New Zealand Qualifications Authority, New Zealand Guardian Trust, Livestock Improvement Corporation, Telecom, Tourism New Zealand, National Library, Air New Zealand and Auckland University’s UniServices.

Mark Botherway, Managing Director of SolNet Solutions, says the board is delighted with the company’s performance. “Establishment costs for an operation such as ours were always going to be high and there have been a number of potential distractions. However, I am pleased with the performance of our staff and the support of our customers.”

“We remain on target to achieve our original financial forecast for the first year of operation, which will see us generating an annual profit,” Botherway says. The company anticipates achieving revenues for the calendar year in the order of $15 to $20 million.

SolNet Solutions is experiencing significant demand from established clients and has signed a number of new customers. It has also established or strengthened partnerships with leading software suppliers such as IBM, Sybase, Actuate, and Checkpoint.

“All indications are that the demand for our offerings is further strengthening and I am enthusiastic about our performance in the foreseeable future. Our vendor independent status has been well received by the market and our 115 strong team is one of the most experienced and knowledgeable in the country,” Botherway says.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: 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>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news