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


Bridgecorp Limited's Half-Year Profit Is Up By 37%

Thursday, March 23, 2006
Half-Year Results - to December 2005

Bridgecorp Limited's half-year profit is up by 37%, continuing the upward trend for the business.

Specialist property financier Bridgecorp Limited has continued its growth in New Zealand with a lift in pre tax profit to $16.1 million for the half-year ending December 2005, an increase of $4.5 million on the same period last year.

The company's half year financial result released today reported an after tax operating profit of $10.8 million, up from $7.9 million in the same period last year. Revenues from lending activities were $47.2 million, up 8.5%.

Total assets as at 31 December were $576.4 million, an increase of $43.4 million in 12 months, funded by total liabilities of $490.5 million and equity of $85.9 million. Equity at 30 December was 14.9% of assets up from 12.9% last year.

Bridgecorp Group Managing Director, Rod Petricevic is satisfied with the results and attributes much of it to the work that has been done internally on operating the business in a more cost efficient and effective way. The company's liquidity has been increased during the half-year and has grown further since December 2005 to reach $50 million currently. "With these sound fundamentals in place we have every reason to feel very confident about the future" said Mr Petricevic.

"We have continued to grow our investment book off the back of continued support from our investors for our fixed interest products, despite the fierce competition for retail money."

All of these positives ensure we are well positioned to move forward over the coming year as we continue to receive strong support from our investors and borrowers.

For more information on Bridgecorp Limited, please visit our website

© Scoop Media

Business Headlines | Sci-Tech Headlines


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>>

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>>


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>>


CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>


Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>


Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>


  • Bill Bennett on Tech