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

 

CER Group Preliminary Results H1 2006

13 September 2006

CER Group Preliminary Results H1 2006

GROUP ENJOYS 400% GROWTH IN SALES REVENUE

Statement made by David Warrick, Managing Director, CER Group Limited

Strong export performance from Certified Organics and New Zealand Nature Company’s contribution to the business has seen CER Group raise its sales revenue by 405 percent for the first half of 2006.

- Overall sales revenue for the first half of 2006 was up 405.2 percent to $2,536,612, compared with $502,079 for the same period in 2005.

- Certified Organics’ sales revenue more than doubled from the same time last year to $1,062,981. This growth was primarily thanks to the growth of export sales, including the contract with the Government of South Australia.

- New Zealand Nature Company, which was acquired by CER Group in the second half of 2005, continued to perform above expectations with sales revenue of $1,473,631.

The Group’s net trading position for the first half of the year is a $234,000 loss - a 28% improvement on the loss stated for the same period last year. Previous figures have been restated as part of CER Group’s early adoption of IFRS.

While CER Group traded at a loss for the first half of the year this was largely as a result of considerable reinvestment of sales revenues into the continued development and marketing of its products, particularly in Certified Organics. The success of this strategy is beginning to be reflected in the forecasts for new sales.

The Directors consider that this result keeps the Group on track to achieve the forecast profit for the 2006 financial year as a whole.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>