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


Fronde Returns To Profit And Has A New Chief Exec

Media release

Fronde Returns To Profit And Has A New Chief Executive

The Board of Fronde Systems Group Ltd today announced a new chief executive appointment and that its unaudited second half year earnings result to March 31 is a profit of over $700,000.

“The Board is pleased to announce that Ian Clarke is the new chief executive. Ian has been acting chief executive over recent months, and has been with Fronde for the past nine years in various roles including CFO and General Manager South,” said Mr Philip Shewell, Chairman of Directors.

“We considered a number of candidates and are pleased that we have such a fine candidate from within the management team. On behalf of shareholders, the board offers a huge vote of thanks to Ian and the management team for their success in correcting a number of the problems we experienced last year, and looks forward to Ian’s leadership.

“The Board and management team have been particularly focused on recovering our position after the poor first six months trading last year and the achieved profit is very commendable in the circumstances.

“The management team restructured the organisation, reduced overheads, and focused on our strong and loyal client base. It is a credit to our staff and their relationships with our clients that we were able to quickly recover,” he said.

The Board is anticipating continued profitability for the 2008–09 year following the changes made and reflected in the profit of the second six months.

“The company’s immediate priority will be on continuing to improve profitability”, concluded the Chairman, Mr Philip Shewell.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>


Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>


Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>


Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>