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

 


Methven: Strong Lift In 1st Half Profit

Methven: Strong Lift In 1st Half Profit

1 EBITDA is earnings before interest, taxation, depreciation, amortisation, non-operating foreign exchange gain/(loss) and inter-segmental charges. NZX Statement 15 October, 2013 Methven - Strong Lift in 1st Half Profit

The first half NPAT for 2013/14 is a significant improvement on prior year up 21% to $2.8 million. Excluding the one-off costs relating to the acquisition of premium Chinese tapware manufacturer, Invention Sanitary, underling NPAT was up a healthy 36% on the prior year.

EBITDA1 excluding the one-off acquisition costs was up 13% on the prior year to $6.6 million notwithstanding unfavourable currency movements.

Half year Net Debt was down 25% on prior year to $14.4 million and was also down 16% on March 2013 year end.

The return of the UK business to a positive first half EBITDA1, from a loss in the prior year, and improving trading conditions in New Zealand, have been the main reasons for the substantially improved results to last year.

“We are pleased with the improvement in our business performance and are confident we can maintain this positive momentum into the 2nd half”, said Group CEO Rick Fala.

- ends -

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Constructions Builds: Consents Top $2 Billion For The First Time

Building consents reached a record $2 billion in March 2017, boosted by new homes and several big non-residential projects, Stats NZ said today. This was up 37 percent compared with March 2016. More>>

Other Stats:

Health: Work Underway To Address Antimicrobial Resistance

As part of a global response the Ministries of Health and Primary Industries have today jointly published ‘Antimicrobial Resistance: New Zealand’s current situation and identified areas for action’ to respond to the changing pattern of antimicrobial resistance in New Zealand. More>>

ALSO:

Employment: Vodafone Announces Family Violence Policy To Support Team

From today, any of Vodafone’s 3,000 workers affected by family violence will be eligible for a range of practical support, including up to 10 additional days of paid leave per year. More>>

Burning Up Over Saturn: Cassini's Grand Finale

With propellant running low, NASA scientists are concerned that the probe might accidentally crash into one of Saturn’s nearby moons, which could contaminate it with Earthling bacteria stuck to the spacecraft. Instead, the spacecraft will be safely "disposed" in Saturn's atmosphere. More>>

ALSO:

Our Fresh Water: Monitoring Report Confirms Serious Challenges For Rivers

• nitrogen levels are getting worse at 55 percent and getting better at 28 percent of monitored river sites across New Zealand • phosphorus levels are getting better at 42 percent and getting worse at 25 percent of monitored river sites across New Zealand More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news